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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Aihua Foreign Exchange]: Trump suddenly denied major tariff rumors! The US dollar index returns to the 104 mark." Hope it will be helpful to you! The original content is as follows:
On April 1, in the early trading of the second Asian market in Beijing time, the US dollar index hovered around 104.15. On Monday, the dollar index closed slightly higher 0.17% to 104.18 as uncertainty over U.S. tariffs made the market stand on the wait-and-see attitude. The benchmark 10-year U.S. Treasury yield closed at 4.2100%; the two-year U.S. Treasury yield closed at 3.8950%, which is more sensitive to monetary policy. Boosted by risk aversion, spot gold continued to rise again and hit its strongest quarterly performance since 1986, and finally closed up 1.25% at 3122.9����� Group��$7 per ounce. Spot silver eventually closed slightly down 0.07% at $34.09 per ounce. International oil prices rose sharply as Trump warned that it might impose secondary tariffs on Russian oil buyers, threatened to bomb Iran and impose tariffs. WTI crude oil finally closed up 3.41% at $71.32 per barrel; Brent crude oil closed up 3.14% at $74.67 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 104.15. The dollar remained flat on Monday, with limited directional liquidity, and despite stock market plunging and gold hit a new high of more than $3,100, the dollar remained on the wait-and-see state. Traders appear to be focusing more on economic signals than trade tensions, with trading hours on Monday marked by expectations for regional manufacturing data and imminent tariff deadlines. Technically, if the US dollar index closes at resistance level 104.30–104.50Above it will move towards the next resistance level 105.50–105.70.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Trading on Tuesday, gold trading around 3124.47. As uncertainty surrounding tariffs boosted safe-haven demand, gold prices continued to move strongly on Monday, rising above $3,100 per ounce and initially stood above the 3,120 mark, setting a new record high of $3,127.76 per ounce intraday, closing at $3,123.80 per ounce, up about 1.3% on the day, setting a record high for three consecutive trading days, with a quarterly increase of about 19%, setting the strongest quarterly performance since 1986. The market expects US President Trump to announce reciprocal tariffs on April 2, and automobile tariffs will take effect on April 3. Investors are also paying attention to the prospects of the Federal Reserve's monetary policy. The US non-farm employment report will be released this week. This trading day will be released. ISM manufacturing PMI in March and JOLTs jobs in the United States in February. Investors need to pay attention.
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 71.16. U.S. President Trump threatened to impose 25% to 50% tariffs on Russian oil buyers, a move that triggered a slight increase in oil prices, but traders are skeptical of this and the gains are limited. The Organization of the Petroleum Exporting Countries (OPEC) response to possible disruptions in Russia's oil supply has added a layer of uncertainty to the near-term oil outlook. The market expects US President Trump to announce reciprocal tariffs on April 2, and automobile tariffs will take effect on April 3. Investors are also paying attention to the prospects of the Federal Reserve's monetary policy. The US non-farm employment report will be released this week. This trading day will be released. ISM manufacturing PMI in March and JOLTs jobs in the United States in February. Investors need to pay attention.
Forex market trading reminder on April 1, 2025
11:30 RBA announced interest rate resolution
12:30 RBA Chairman Brock held a press conference
14:00 UK March Nationwide House Price Index Monthly Rate
14:30 Switzerland February actual retail sales annual rate
15:50 France March final value of manufacturing PMI
15:5 5. The final value of the manufacturing PMI in Germany in March
16:00 The final value of the manufacturing PMI in the euro zone in March
16:30 The final value of the manufacturing PMI in the UK in March
17:00 The initial value of the CPI in the euro zone in March
17:00 The initial value of the CPI in the euro zone in March
17:00 The initial value of the CPI in the euro zone in March
17:00 The initial value of the unemployment rate in the euro zone in February
20:30 European Central Bank Governor Lagarde delivered a speech
21:00 USFed Barkin delivered a speech
21:45 The final value of S&P Global Manufacturing PMI in March
22:00 The final value of the US S&P Global Manufacturing PMI in March
22:00 The US February JOLTs job vacancy
22:00 The monthly rate of construction expenditure in February
The next day 04:30 the US to March 28th the week API crude oil inventories
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