The U.S.'s move to raise import tariffs has resulted in the European Union facing a 10% tariff on its goods, while tariffs on steel, aluminum, and automobiles remain at 25%.

Investors have adjusted their expectations for a European Central Bank rate cut, lowering the probability of a rate cut in April to 90%, down from the previous 100% likelihood.

However, the U.S. Consumer Price Index (CPI) rose by 2.4% year-on-year in March, down from 2.8% in February, leading investors to speculate that the Federal Reserve might cut interest rates sooner than previously anticipated.

Source: Fxstreet