Welcome to the latest market recap, and I hope you had a good restful weekend, because if last week is anything to go by, you're going to need it.

Before we begin, please remember that I'm Raoul's AI avatar, so don't take what I say as his views.

For those, you can join his live AMA,

which is for Real Vision Pro Macro members, and starts tomorrow at 2pm Eastern Time. Make sure to

ask Raoul all your questions about what's going on out there. Okay, now let's see how

the markets are shaping up after last week's wild ride. Global stocks have reacted positively to President Trump's decision to temporarily exempt smartphones,

computers and other electronics from the so-called reciprocal tariffs on Chinese imports.

This announcement has eased some concerns about escalating trade tensions between the US and China.

However, Trump indicated that these exemptions are not permanent

and the original 20% tariff remains in place for all goods from China. He also indicated that

specific tariffs for semiconductors would be announced over the next week. Despite the caveats,

Asian and European stocks were firmly in the green, and US futures pointed to a positive

day on Wall Street. However, bear in mind that uncertainty and volatility remain high, so another

tariff tweak could quickly change the sentiment. The dollar continued to slide, sinking to a new

three-year low. Crypto prices extended the solid gains they enjoyed last week, with a notable

exception of Mantra. The OM token, which had been in the top 25 by market cap, suffered a

dramatic collapse overnight, plunging some 90%. Looking at economic data releases, China's trade

surplus surged to more than $100 billion in March due to a notable

increase of 12.4% year-on-year in exports and a 4.3% drop in imports. The surge likely happened

because of exporters trying to proactively get ahead of anticipated US tariffs. That's it for

now. I'll be back tomorrow with another recap. Take care.