Morning Economic Report 5-9-25

It is all about trade deals, which undoubtedly have positive impacts on the sentiment. After the US-UK agreement announced yesterday India is offering to lower the tariff gap with the US from 13% to 4%. The weekend negotiations between the US and China also increases the appetite for risk although a breakthrough would be nothing short of miraculous. Chinese exports in April were up 8.1%, far above forecast due to pre-empting before US tariffs, but lower than in March. Equities are higher, bitcoin is rallying but the dollar is on the retreat after the recent rally.