Old Mo's Message:

On April 10, according to the General Administration of Customs of China, as announced on April 9, starting from today at 12:01 PM, an additional 84% tariff will be imposed on all imported goods originating from the United States, on top of the existing applicable tariff rates.

The U.S. Department of Labor will announce the March CPI and the number of initial jobless claims for the week ending April 5 at 8:30 PM Beijing time tonight.

The previous value of the U.S. March unadjusted CPI year-on-year rate was 2.8%, while the current forecast is 2.6%.

Goldman Sachs believes that the main driving factor for the significant rise in the U.S. March CPI will be the continuous increase in auto insurance, while tariff pressure will be almost zero.

Foreign exchange: Key resistance for the U.S. dollar index is at 106; a breakthrough would be bullish.

Gold: If CPI exceeds expectations, it may test the support at $2300.

U.S. stock futures: The implied volatility of the S&P 500 (VIX) has risen to 16, indicating caution against short-term selling pressure.