Next week's macro outlook: April 2 is the day of Trump's reciprocal tariff announcement, which may become a watershed for global assets

Next Wednesday (April 2) is the Trump Equivalent Tariff Announcement Day for global attention. Before that, investors are more cautious because it is not clear which tariffs Trump will implement. Bank of America foreign exchange analysts Athanasios Vamvakidis and Claudio Piron said in a report that the risks are balanced before the deadline next week. The imposition of tariffs on specific products is already expected by the market. Comprehensive tariffs will be a negative surprise. It is expected that the dollar will not continue to strengthen in this case. Against the backdrop of high risk aversion in the market, gold has repeatedly set new highs this week. It rose to an all-time record of $3,086.75/oz. It refreshed the 18th all-time high of the year. The quarterly increase reached 17%, the largest since 1986. Here are the key points that the market will focus on in the new week:
Monday 21:45, USA March Chicago PMI
On Tuesday at 21:45, the final US S & P global manufacturing PMI for March
Wednesday at 20:15, U.S. ADP payrolls in March
Thursday at 01:00, European Central Bank President Christine Lagarde delivered a speech
On Thursday at 19:30, the European Central Bank released the March monetary policy meeting notes
At 19:30 on Thursday, the number of layoffs at U.S. March challenger companies

Friday at 00:00, Federal Reserve Vice Chairperson Jefferson delivered a speech

Friday at 20:30, the U.S. unemployment rate in March, the U.S. non-farm payrolls after the March quarterly adjustment, and the U.S. average hourly wage annual/monthly rate in March

On Friday at 23:25, Federal Reserve Chairperson Jerome Powell made a speech