April 3 Morning Analysis: How Will the Market Move on Its First Trading Day After Tariffs Are Implemented?

Trump's tariffs officially took effect yesterday, marking one of the most significant macro events of 2026 so far. Today will be the first full trading day since implementation, and the early trading session's response window is particularly crucial.

Morning Expectations Interpretation:
The initial wave of sentiment following the implementation of tariffs is often more important than the policy itself. Whether the market opens higher or lower, it signals important information:

• If it opens lower / weak: This indicates that the tariff impact is still being absorbed in the short term, and market sentiment is temporarily bearish. However, historical experience repeatedly shows that panic adjustments after policy implementation are often the best window for strategic positioning.
• If it opens higher / resilient: This suggests that the market has already fully priced in negative expectations, and the negative news has been exhausted. In this case, market resilience may be stronger than expected.

My April Strategy Remains Unchanged:
Ceasefire expectations + dovish Federal Reserve remain the main mid-term support, with tariffs just short-term noise. BTC target remains at 78,000-82,000, and gold continues to hover strongly at high levels.

One Sentence Summary:
Tariffs are today's story, but ceasefire and rate cuts are the main themes for April. Don't over-interpret early volatility—focus on the main trend.
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