| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 06:30 | Switzerland | Consumer Price Index (YoY) | March | 0.3% | 0.5% | 0.3% |
| 06:30 | Switzerland | Consumer Price Index (MoM) | March | 0.6% | 0% | 0% |
| 07:55 | Germany | Services PMI | March | 51.1 | 50.2 | 50.9 |
| 08:00 | Eurozone | Services PMI | March | 50.6 | 50.4 | 51 |
| 08:30 | United Kingdom | Purchasing Manager Index Services | March | 51 | 53.2 | 52.5 |
| 09:00 | Eurozone | Producer Price Index, MoM | February | 0.7% | 0.1% | 0.2% |
| 09:00 | Eurozone | Producer Price Index (YoY) | February | 1.7% | 3.4% | 3.0% |
USD declined against other major currencies in the European session on Thursday, as investors continued to react to U.S. President Donald Trump’s announcement of steep tariffs on major trading partners.
The U.S. Dollar Index (DXY), which measures the U.S. currency's value relative to a basket of foreign currencies, plunged 1.77% from its previous close to 101.97.
Donald Trump declared last night that the U.S. will apply a 10% baseline tariff on all imported goods, starting on April 9, and individualized higher rates for the countries with which the United States has the largest trade deficits, including 34% for China and 20% for the European Union.
According to Fitch Ratings’ estimates, given the newly imposed levies, the U.S. average overall tariff is now around 22%, the highest level last seen around 1910.
Trump’s latest tariff actions sparked fears of a global trade war, disruptions in supply chains, a slowdown in economic growth and a rebound in inflation, prompting markets to snap up safe-haven assets.
China and the EU have already pledged retaliation measures.