Morning Economic Update 2/4/25

Markets swing on tariffs. Relief initially came from the 1-month delay for Canada and Mexico as the make concessions. However, China announces 15% tariffs on US coal, LNG and 10% on oil, agricultural machines and some cars. It also announces export controls on rare metals and an anti-trust probe into Google. Various FED chat appears to be cautionary; markets speculate on reduced rate cuts in US for 2025. Euro bourses are mixed as US stock futures fall slightly again. Crypto swings with news as Gold remains in favour and not far from yesterday's all-time high. DAX +0.12%, CAC -0.15%, FTSE +0.20%, Euro STOXX600 -0.12%. Currencies oscillate but without too much drama as the USD drifts, DXY 108.58. Gold 2814. BTC $98,835.