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Toyota Motor and Alphabet’s Waymo have announced a new partnership to co-develop autonomous driving platforms and explore innovations in next-generation personally owned vehicles (POVs).

• Toyota and Waymo will jointly create an autonomous driving system for future models.

• The collaboration will also focus on improving self-driving capabilities in privately owned vehicles.

• Both companies are looking at ways to expand the partnership over time.

• Waymo contributes its expertise in autonomous driving technology, while Toyota offers large-scale manufacturing and global distribution.

• The agreement is seen as a significant move toward delivering safe, consumer-ready self-driving cars.

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

UK Lloyds Business Barometer for April 2025 comes in at a three month low of 39%

• prior 49%
• long-run average is 29%
• gauge of economic optimism fell by 13 points to
  28%
• 70% of businesses expect to raise prices in the coming 12
  months

Info comes via a Reuters report, which adds in on a survey the Confederation of British
Industry:

• private sector output
  declined in the three months to April
• is expected to fall
  again in the three months to July
• “Private sector activity remains subdued, with our surveys
  pointing to weaker economic momentum than implied by official
  data,”
• “Uncertainty has ramped up over the last few weeks,
  following the back-and-forth on tariffs levied by the US and,
  subsequently, big movements in financial markets.”

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

Trump is speaking at a rally.

Trump is speaking across topics. Tariffs, China and what have you.

Its no secret he is not a fan of Powell. Trump wants lower rates and so far Powell has not accommodated him.

Trump says he knows more about interest rates than the Fed chair.

Trump brought Powell on to head the Fed in early 2018.

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

John Paulson is billionaire hedge fund manager who leads his own firm, Paulson & Co. He likes gold a lot higher:

• near $5,000 an ounce by 2028 … the “high $4,000 range”

Paulson says that estimate was put to him, adding that “It’s a well-informed prediction. I think that’s a reasonable number”.

Citing:

• “As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,”
• “When the war started, (Russia) kept their physical gold, that was safe, but all their cash – the paper reserves – were confiscated,” Paulson said.

  “So that caused other central banks to wake up and say … ‘What happens if there’s a conflict with the U.S.? Could the U.S. keep our treasuries, and all our savings would disappear?'”

• global trade uncertainty, fueled in part by Washington’s tariffs, as further underpinning gold.

  “The best place to go if your faith in the (U.S.) dollar diminishes is gold as a reserve currency,”

—

I compressed the price scale to give a pic of how gold has fareed (this is a weekly candle chart) and to put 5K in the picture:

What y’all think? Comments welcome!

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

Amazon said Tuesday it considered displaying import charges on items sold via its site for ultradiscount items, but that the plan “was never approved and not going to happen.”

U.S. crude oil prices have fallen more than 20% since Trump took office, to below $65 per barrel, making it unprofitable for many companies to drill.

Waiting until age 70 to claim Social Security provides the biggest checks in retirement. But it can sometimes make sense to claim earlier. Here’s what to know.

Investors have been piling into emerging market bonds amid a U.S. Treasury sell-off whose status as a safe haven has comes under investor scrutiny.

• Trump will deliver ‘Investing in America’ remarks on Wednesday afternoon, US Eastern time
• Chinese markets closed tomorrow, Thursday, through to reopening on Tuesday next week
• US media report – Elon Musk no longer working from White House
• Australian Treasurer Chalmers says says the market expects more interest rate cuts

*

• China Caixin Manufacturing PMI for April 2025 50.4 (expected 49.9, prior 51.2)
• China April official Manufacturing PMI 49.0 (expected of 49.5)

*

• Australian Q1 2025 inflation headline 2.4% y/y (expected 2.2%)

*

• PBOC sets USD/ CNY central rate at 7.2014 (vs. estimate at 7.2670)
• New Zealand April business confidence 49.3 (vs. 57.5 prior )
• FT reports Trump’s top economic adviser Miran ‘out of his depth’ in hedge fund Q&A

*

• Japanese government official expresses mixed feelings on Trump tariffs
• Japan March retail sales +3.1% y/y (vs. expected +3.5%)
• Japan March 2025 preliminary industrial production -1.1% m/m (expected -0.4%)

*

• Toyota and Waymo team up to advance autonomous driving and next-gen vehicles
• UK April business sentiment fell to its lowest level in three months
• Trump says Federal Reserve ‘person’ is not doing a good job
• Billionaire hedge fund guy forecasts gold towards US$5000
• US inflation data due Wednesday – what investment banks expect for March PCE
• Reminder – Goldman Sachs expects the US dollar has further to fall
• Canadian Prime Minister Carney and Trump spoke on the phone
• Oil: private survey of inventory shows headline crude oil build much larger than expected
• Supermicro Computer preannounces a miss in Revenues and EPS. Stock down sharply
• A look at some of the earnings after the close.Starbucks, Visa, First Solar, Snap report.
• Forexlive Americas FX news wrap: Trade data dims outlook for tomorrow’s GDP report
• US indices close higher. S&P up for the sixth consecutive day
• US Treas Sec Bessent says no trade deal is done until Trump announces it
• Trade ideas thread – Wednesday, 30 April, insightful charts, technical analysis, ideas

Australian inflation slowed in the latest reading but still came in ahead of expectations, reinforcing expectations that the Reserve Bank of Australia will cut its cash rate at its next policy meeting on May 19–20. While softer near-term price pressures and rising global growth risks support the case for easing, the RBA may hold back from adopting a clearly dovish stance just yet.

In China, official PMI data showed a renewed loss of momentum in the factory sector. The official manufacturing PMI fell to 49.0 in April from 50.5 in March, marking the sharpest contraction since December 2023 and reflecting weaker conditions among larger, state-linked enterprises. In contrast, the Caixin manufacturing PMI, which focuses more on smaller, private exporters, eased to 50.4 from 51.2 but remained in expansion territory. The divergence suggests that while broad industrial activity is weakening, smaller firms are showing relative resilience despite mounting tariff headwinds.

New export orders slumped at the fastest pace since July 2023 amid heightened trade tensions, contributing to only a modest rise in overall new business volumes.

Chinese markets are closed for the Labour Day holidays from Tuesday through Monday, limiting immediate reaction to the data.

In commodities, U.S. crude prices came under pressure after the American Petroleum Institute reported a 3.76 million barrel increase in U.S. inventories, stoking some fresh concerns over demand.

Market movement was restrained during the session. AUD/USD has pooped up a little following the CPI data while the USD elsewhere is a touch better bid. Ranges have not been large. While regional equities have been mixed US equity index futures have been heavy during evening trade.

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