Morning Bid: Easter rising? Markets seek solace

Mike Dolan

Mon, Apr 14, 2025, 4:06 AM 5 min read

(The opinions expressed here are those of the author, a columnist for Reuters.)

By Mike Dolan

LONDON (Reuters) - What matters in U.S. and global markets today

By Mike Dolan, Editor-At-Large, Financial Industry and Financial Markets

For investors praying for some respite from weeks of extreme volatility as the Easter break approaches, weekend events weren't all that encouraging.

Even though a late stock market rally on Wall Street on Friday has been extended in futures prices into a new holiday-shortened week, flip-flopping of U.S. trade policy announcements over the past two days doesn't bode well for corporate and household planning - or indeed market stability.

Another big focus of the week will be central bank meetings in Canada and in the euro zone, with both the European Central Bank and the Bank of Canada expected to lower interest rates by a quarter point each.

Today, we look at the ECB's decision in detail and how it will view the sharp appreciation of the euro in its deliberations. Many fear it may start to become wary of deflationary forces building.

Today's Market Minute

* U.S. President Donald Trump on Sunday said he would beannouncing the tariff rate on imported semiconductors over thenext week, adding that there would be flexibility with somecompaniesin the sector. * China's exports rose sharply in March after factoriesrushed out shipments before the latest U.S. tariffs took effect,but an escalating Sino-U.S. trade war has darkened the outlookfor factories and growth in the world's second-biggest economy. * Japan is gearing up for trade negotiations with the UnitedStates that will likely touch on the thorny topic of currencypolicy, with some officials privately bracing for Washington tocall on Tokyo to prop up the yen. * Iran and the U.S. said they held "constructive" talks onSaturday and agreed to reconvene next week in a dialogue meantto address Tehran's escalating nuclear programme, with Trumpthreatening military action if there is no deal. * Credit ratings agency S&P Global upgraded Italy on Fridayin a surprise move just days after Rome halved its economicgrowth forecast amid global market turmoil and said its hugepublic debt would rise this year and next.

Easter rising? Markets seek solace

In Washington's second significant retreat from its sweeping April 2 trade tariff plans, President Donald Trump granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China - sizeable relief to tech firms like Apple reliant on imported products.