Core Viewpoint - The U.S. International Trade Court's ruling to revoke tariffs may lead to a surge in imports by American companies, potentially widening the trade deficit in the coming months [1] Group 1: Court Ruling and Implications - The court's decision to revoke tariffs imposed by the Trump administration could result in American companies importing goods in large quantities over the next two months [1] - The Trump administration has quickly appealed the ruling, indicating that the case may be taken to the Federal Circuit Court and then to the Supreme Court [1] - The uncertainty surrounding tariff policies is expected to last for 4 to 8 weeks as the case progresses through the appeals process [1] Group 2: Impact on Trade Deficit - Analysts predict that the influx of imports will significantly increase the U.S. trade deficit for the first half of the year [1]

Macro News - The U.S. Labor Department reported that the JOLTS job openings for March were 7.192 million, significantly below the expected 7.5 million, marking the lowest level since September of the previous year, indicating a weakening labor demand amid increasing economic uncertainty [3] - The Conference Board's consumer confidence index for April unexpectedly dropped to 86, the lowest since May 2020 [3] - Goldman Sachs noted that the U.S. trade deficit in goods widened more than expected in March, with both imports and exports increasing, primarily driven by a rise in consumer goods imports, reflecting a "front-running" of imports before tariff hikes [3] Gold Futures Analysis - Gold futures prices are currently down, with the latest price at 782.14 CNY per gram, a decrease of 0.65%, having reached a high of 788.34 CNY and a low of 781.14 CNY today [4] - The short-term resistance levels for gold are identified between 845-850 CNY, while support levels are noted between 760-765 CNY [4]