Market Summary (April 25, 2025)

Global markets are currently in a risk-on mode, driven by positive developments in trade negotiations, notably potential agreements involving India and sector-specific tariff exemptions from China. The outlook for US-China trade talks appears cautiously optimistic, with indications that the US is actively engaged in negotiations, although China disputes some claims. The dollar is regaining strength as trade tensions seem to ease, but markets remain alert to the possibility of setbacks if negotiations falter. Sentiment remains sensitive, emphasizing the need for flexibility amidst geopolitical uncertainties.