US Markets, Dollar Continue Slide, Speculation of Next Pope Begins and Gaza Restrictions Increase

Andrew Sheves

Good morning,

Three headlines to start your day

🔻 US Market Fall Resumes Amid Trump-Fed Tensions

After the long weekend, US markets slumped Monday with the S&P 500 and other major indexes dropping around 2.5% as President Trump criticized Fed Chair Powell over interest rates. The dollar weakened to a 15-month low while gold surged above $3,400 an ounce amid growing investor concerns about Fed independence and global trade tensions. More - Bloomberg

🔭 Bloomberg also has this great look ahead to upcoming events that will indicate how Trump’s tariffs and uncertainty over the US economy are being felt and interpreted around the world.

🕊️ Speculation of Next Pope Begins

As preparations for the burial of Pope Francis get underway, the subsequent papal conclave to select his successor will be the largest in Catholic history with 135 eligible cardinals, creating an unpredictable outcome. Major contenders include Cardinals Bo from Myanmar, Tagle from the Philippines, and Italians Pizzaballa and Parolin, reflecting Francis’s creation of a historically diverse College of Cardinals where Europeans no longer hold the majority. The conclave will begin 15-20 days after Francis’s death. More - Washington Post

🇵🇸** Gaza Squeeze Increases as Aid Blockade Continues**

The IDF has now designated 69% of Gaza as “no-go” areas, according to the UN, while Israel continues to deny requests to send food and aid into the enclave. More - Al Jazeera

Key Metrics

WTI is $61.99 (Down)

Low |- < ——————| High

Wheat is $179.607 (Down)

Low | < ——————-| High

EuroDollar is $1.15 (Up)

Low |——————- > | High

Graphs are illustrative to show comparative price over last 180 days

Metrics via AlphaVantage updated Apr 21 2025 20:11 UTC

Americas Stability Ratings and News Summary

More Unstable

🇦🇷 Argentina, 🇧🇿 Belize, 🇧🇴 Bolivia, 🇧🇷 Brazil, 🇨🇦 Canada, 🇨🇱 Chile, 🇨🇴 Colombia, 🇨🇷 Costa Rica, 🇨🇺 Cuba, 🇩🇲 Dominica, 🇩🇴 Dominican Republic, 🇪🇨 Ecuador, 🇸🇻 El Salvador, 🇬🇩 Grenada, 🇬🇹 Guatemala, 🇭🇹 Haiti, 🇭🇳 Honduras, 🇯🇲 Jamaica, 🇲🇽 Mexico, 🇳🇮 Nicaragua, 🇵🇦 Panama, 🇵🇪 Peru, 🇱🇨 Saint Lucia, 🇸🇷 Suriname, 🇧🇸 The Bahamas, 🇹🇹 Trinidad and Tobago, 🇺🇸 United States Of America, 🇻🇪 Venezuela

More Stable

No countries were more stable over this period

Unchanged

🇦🇬 Antigua and Barbuda, 🇧🇧 Barbados, 🇬🇾 Guyana, 🇵🇾 Paraguay, 🇰🇳 Saint Kitts and Nevis, 🇻🇨 Saint Vincent and the Grenadines, 🇺🇾 Uruguay

Regional News Summary

Braz

Carpe tomorrow!