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Amazon is releasing its first earnings results since President Donald Trump announced sweeping new tariffs.

A downside surprise could be perilous for the market considering the recent spate of bad economic news and the prevailing angst over tariffs.

Mercedes-Benz on Thursday said it will add a new vehicle to its plant in Alabama amid President Donald Trump’s auto tariffs.

A month after President Trump announced new tariffs on imports into the U.S., Microsoft is citing higher video game development costs for an increase in prices.

Investors this earnings season are watching for signs that President Donald Trump’s tariff push and global trade uncertainty are hampering advertising demand.

Ahead of last Monday’s Canadian election Adam posted on the risk for CAD – minority government:

• There is one Canadian election outcome that could hurt the loonie

That is also a risk for this weekend’s election in Australia. Polling is currently favouring the incumbent Prime Minister Albanese, but its very close. The very real risk is Albanese wins but only in minority, just like Carney this week. He will then form government with the support of Greens and/or independents and that always risks a more open wallet and a hit to fiscal irresponsibility, what little there is.

The other near term risk is we won’t get a clear result for many days after the election.

These could provide a setback for AUD, apart from the trade storms currently underway hitting Australia’s major trading partner, China.

PM Albanese and opposition leader Dutton

This article was written by Eamonn Sheridan at www.forexlive.com.

Japan economy minister Akazawa said that FX was not discussed.

• Negotiation lasted for 130 minutes

• Able to have thorough discussions

• Again requested review of tariffs on Japan

• No comment on specific negotiations

• Talked how Japan can expand trade, non-tariff measures, economic security with US

• Told US that tariff measures regrettable

• Did not discuss forex

• Want to hold next meeting after mid-May

• No discussions on national security

• Asked us to review tariff measures on auto parts

• Negotiation handled as a package

• National security matters different from tariff talks

• Did not talk about China during talks

• Already decided forex matters to be discussed between finance ministers

• Understand that US wanting to reach some kind of agreements within 90-day window with various countries

I bolded that timing comment above. This is not indicative of a quick resolution to trade talks as Trump would have us believe. Not that anyone does anyway.

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Earlier from Japan:

• “Japan’s US Treasury holdings among tools for trade talks, Finance Minister Kato says”

This article was written by Eamonn Sheridan at www.forexlive.com.

Politico with the report that might have an impact on the US labour market in the weeks and months to come.

Trump’s admin asked the US Supreme Court to allow rolling back immigration protections for about 600,000 Venezuelans living in the U.S.

• the latest of about a dozen expedited requests the Trump administration has brought to the high court in the past three months
• asks to lift a court order blocking Trump’s plan to curtail or end so-called temporary protected status, or TPS, for Venezuelan nationals. People who are granted TPS get protection from deportation and are issued work permits

Advocates for the Venezuelan TPS recipients will have until May 8 to file a response.

More at that link to the report above.

This article was written by Eamonn Sheridan at www.forexlive.com.

Japan March unemployment rate 2.5%

• expected 2.4%, prior 2.4%

Jobs to applicant ratio 1.26

• expected 1.25, prior 1.24

This is the big news from Japan today, IMO:

• “Japan’s US Treasury holdings among tools for trade talks, Finance Minister Kato says”

99 problems but a job ain’t one in Japan!

This article was written by Eamonn Sheridan at www.forexlive.com.