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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Aihua Foreign Exchange Market Review]: The details of Trump's tariffs are unknown, and the US dollar fluctuates at a high level." Hope it will be helpful to you! The original content is as follows:
After a calm start of this week, the US dollar accumulated strength in the U.S. session on Monday, and the US dollar index closed in the upward area for the fourth consecutive day. The U.S. dollar index remained firmly above 104.00 early on Tuesday as market focus turned to U.S. February CB Consumer Confidence Index data. The U.S. economic calendar will also include new home sales data and regional manufacturing surveys, and investors will closely follow avatradescn.comments from central bank officials.
Monday data from the U.S. showed that as the S&P Global Integrated Purchasing Managers Index climbed from 51.6 to 53.5, private sector economic activity accelerated its expansion in March. Meanwhile, U.S. President Donald Trump reiterated their plans to impose additional tariffs on cars, aluminum and medicines “soon”. Wall Street's major indexes have accumulated bullish momentum driven by improved risk sentiment and recorded a strong gain on Monday. In early European trading on Tuesday, U.S. stock index futures fell slightly on the day.
Basic Forex Market Market Conditions:
BoJ Governor Kazuo Ueda said in a speech to the Japanese Parliament on Tuesday that they need some time to consider how to deal with ETF holdings. The U.S. dollar/yen rose nearly 1% on Monday, and rose slightly higher in the Asian session on Tuesday and hit a high of around 151.00 since early March before pulling back to 105.50 in early European session.
After the European session gain on Monday, the euro/dollar reversed its direction and closed with a slight decline. During the European session on Tuesday, the pair fluctuated within a relatively narrow channel just below 1.0800. The European Economic Calendar will provide data on business confidence in Germany.
The pound/dollar closed slightly lower on Monday after he gave up on the USMost of the single-day gains during the period. The pair remained sluggish early on Tuesday, trading around 1.2900.
Bulle market fundamentals:
In terms of avatradescn.commodities, oil prices have barely changed on Tuesday, after a 1% increase in the previous trading day as investors weighed the impact of Trump's announcement of tariffs on countries that purchased oil and gas from Venezuela. Brent crude futures rose 2 cents to $73.02. U.S. WTI crude oil futures remained flat at $69.11.
The gold price stabilized at $3,015 after a Fed official hinted cautiously about interest rate cuts this year. https://avatradescn.com
Analysis of major currency trends:
Euro: The intraday bias of the euro/dollar remains moderately downward, as the correction from the short-term top 1.0953 will extend to the 38.2% retracement level of 1.0726 from 1.0358 to 1.0953. A strong support should be seen to bring a rebound. On the plus side, breaking through 1.0953 will resume the rebound from 1.0176 to the key resistance level 1.1274.
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