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Real-time News
The German Ministry of Economic Affairs stated: "We have taken note of Trumps statement regarding raising automobile tariffs and will closely coordinate our next steps within the EU."Domestic News: 1. Rumors that "ETC will no longer be used on highways starting May 1st" are false. 2. China Ruyi: Signed a 2026 game cooperation framework agreement with Tencent. 3. According to online platform data, as of May 3rd, the box office for the "May Day" holiday (including pre-sales) exceeded 500 million yuan. International News: 1. Kuwaiti Oil Minister: Kuwaits production is expected to reach 2.628 million barrels per day in June. 2. Two US soldiers participating in the "African Lion 2026" exercise went missing in a training area near Tantan, Morocco. 3. Major OPEC oil-producing countries announced production increases for the third consecutive month, deciding to increase crude oil production by 188,000 barrels per day in June. 4. US Treasury Secretary Bessenter: US energy exports are currently at record levels; the US is a "big winner" in the energy market. 5. Federal Reserve – Barr: Private lending risks could spill over into the financial system through "psychological contagion." Kashkari: Does not believe there is an immediate crisis in the level of US government debt; in some cases, the Federal Reserve may need to raise interest rates. 6. Iran Situation: ① Iranian media reported that an Iranian supertanker broke through the US blockade. ② Iran stated that all traffic in the Strait of Hormuz requires Iranian permission. ③ US media reported that Iran is not demanding the lifting of the Strait of Hormuz blockade before direct negotiations. ④ Media revealed details of Irans latest negotiation proposal, which includes three phases. The first phase includes "transforming the ceasefire into a comprehensive ceasefire within 30 days."Federal Reserves Kashkari: He does not believe there is an immediate crisis in the level of US government debt.Federal Reserves Kashkari: We all look forward to working together after Warshs nomination is confirmed. We are open to some of the concerns expressed by Warsh.Federal Reserves Kashkari: The challenge facing the Federal Reserve is the uncertainty surrounding the path of inflation.

Forex

Volatility subsides around 101.80 as focus shifts to US S&P PMI in US Dollar Index Price Analysis

The US Dollar Index is in the green in advance of provisional US S&P PMI data. Thursday's market behavior was erratic after the publication of the eleventh consecutive report of higher-than-anticipated unemployment claims. The Fed's decision to increase interest rates has led to persistently deteriorating labor market conditions.