Taiwan dollar rises; Buffett plans to retire – Yahoo Finance

Upcoming Days in European and Global Markets

The rise of the Taiwanese dollar is significantly influencing Asian trading sessions as a busy week of central bank decisions unfolds, alongside key economic data and recent moves by Berkshire Hathaway.

In a notable development, US President Donald Trump has implemented 100% tariffs on films made outside the country, called for the reopening of the notorious Alcatraz prison, and expressed his views on China’s trade negotiations.

The Taiwanese dollar has surged to nearly a three-year high, marking the second consecutive session of substantial gains, which has led to speculation that some Asian nations might be considering a revaluation of their currencies to secure trade concessions from the US.

While the Taiwanese dollar isn’t officially pegged to any currency, the central bank intervenes as needed to maintain what it describes as “dynamic stability.” Recent data shows that increases of over 6% over two days represent the largest recorded gains.

Meanwhile, the holidays in the UK, Hong Kong, China, Japan, and South Korea somewhat dampened trading on Monday.

During a televised interview on Sunday, Trump stated he would not dismiss Federal Reserve Chairman Jerome Powell but continues to advocate for lower interest rates, describing Powell as “stricken.”

The Federal Reserve’s meeting is set for Wednesday, and it’s generally anticipated that interest rates will remain stable following a solid employment report from March.

The Bank of England will meet on Thursday, with expectations leaning towards a rate cut, while the Norwegian and Swedish central banks are likely to maintain their current rates.

In recent elections, incumbents in Australia and Singapore have retained power, reflecting the prevailing influence of the ruling party amid the global economic uncertainties spurred by Trump.

On another note, right-wing Euroskeptic George Simion has won the first round of Romania’s presidential election, echoing a trend towards Trump-style nationalism in the European Union.