US President Trump: Will threaten countries to open up with tariffs.

The New Zealand dollar fell 0.50% against the U.S. dollar NZD/USD during the day and is now trading at 0.5908.

Abroad 1. Goldman Sachs: China's stock market remains resilient, maintaining an "overweight" rating. 2. Goldman Sachs: Raise the target values for MSCI China and CSI 300 for the next 12 months. 3. Goldman Sachs: Raise the US core PCE inflation to 3.8% by the end of 2025. 4. Goldman Sachs: It will take time for the job market to weaken, and there is a high probability of waiting next month. 5. Bank of America: Gold prices can easily trade above 3,000, but will not exceed 3,500 for now. 6. Citi: Lower the short-term price forecast for Brent crude to $55 as the US-Iran nuclear agreement is expected to be reached. 7. MUFG: The Fed's cautious attitude towards rate cuts may not necessarily strengthen the US dollar. 8. Pansen Macro: The Bank of England is expected to cut interest rates by another 75 basis points this year. 9. TD Securities: If the Bank of England hints at more aggressive rate cuts, the pound will face a blow. 10. Pansen Macro: German factory orders in March were strong, but will be hit by tariffs later. 11. ING: The euro may benefit from de-dollarization, but there is still a way to go. Domestic 1. CICC: The Fed will not preemptively cut interest rates. 2. CICC: The central bank cuts interest rates, and bank deposit rates may also be lowered in the future. 3. CITIC Securities: The progress of China-US trade negotiations can be summarized as "three steps". 4. CITIC Securities: It is still expected that the Fed will cut interest rates less than or equal to 2 times this year. 5. CITIC Securities: Supply continues to shrink, and storage is expanding. 6. CITIC Securities: The impact of a package of financial policies on bank operating expectations is neutral to positive. 7. CITIC Construction Investment: In the future, fertility subsidies may be improved in three dimensions. 8. CITIC Securities: 2025 will be the first year of mass production of the embodied intelligent robot industry. 9. CITIC Securities: It is expected that the deposit rate cut will be gradually implemented soon. 10. Minsheng Macro: The Fed's subjective willingness to cut interest rates in June is not strong. 11. Soochow Securities: The clear policy implementation path injects strong confidence into the market. 12. Huatai Securities: The Fed's subsequent interest rate cut decision depends on tariffs and data, especially employment data. 13. Huachuang Securities: The combination of "one bank, one bureau, and one association" will bring about the strengthening of market risk preference. 14. Founder Securities: Lightweighting is an important industry trend of humanoid robots, and materials such as magnesium alloys and PEEK may usher in an upward penetration rate.