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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn Official Website]: The market is still in a state of tension, waiting for the US tariff announcement." Hope it will be helpful to you! The original content is as follows:
The market adhered to a cautious stance on the first day of April, waiting for the U.S. reciprocal tariff decision, which is expected to be announced at 19:00 GMT on Wednesday. During the European session, inflation data for the euro zone in March will be closely watched, and the U.S. economic calendar will include JOLTS job opening data for February and ISM Manufacturing Purchasing Managers Index (PMI) report for March.
The US dollar benefited from the safe-haven market atmosphere in the first half of Monday. After a bearish opening, major Wall Street stock indexes rebounded later in the U.S. session, limiting the dollar's gains. U.S. President Donald Trump reiterated Monday night that his reciprocity tariff plan will target all countries.
During the Asian trading session, the Reserve Bank of Australia (RBA) announced that it would keep the policy interest rate unchanged at 4.1%, in line with expectations. The RBA pointed out in its policy statement that uncertainty about the overseas outlook remains large. RBA President Michele Bullock said in a post-conference press conference that policy makers did not discuss rate cuts and explained that they would wait for more data before taking the next step. After falling nearly 0.7% on Monday, the Australian dollar/dollar held its ground and rose slightly around 0.6250 in the early trading session of Europe that day. Meanwhile, data from China shows that Caixin Manufacturing Purchasing Managers Index rose from 50.8 in February to 51.2 in March.
Basic Forex Market Market Conditions:
Euro/USD has difficulty gaining traction after a slight decline on Monday and trades around 1.0800.
The GBP/USD rebounded slightly after falling below 1.2900 on Monday, whenThe closing price fell slightly. The pair remains relatively calm and fluctuates within a narrow channel around 1.2920 to begin the European session.
The unemployment rate in Japan fell slightly from 2.5% in January to 2.4% in February. Other data from Japan show that short-term large industrial capital expenditures rose 3.1% in the first quarter. The U.S. dollar/yen did not respond to these figures, and the last time I saw it slightly below 150.00 sideways.
Bulle market fundamentals:
Gold corrected to $3,130 in early European session.
Analysis of major currency trends:
Euro: The intraday bias of the euro/dollar remains neutral and the outlook remains unchanged. On the plus side, breaking through the 1.0857 resistance level will indicate that the correction from 1.0963 has been avatradescn.completed. The retest of 1.0953 should be viewed first. A resolute breakthrough will resume a rebound from 1.0176 to key resistance level 1.1274. In any case, as long as the 38.2% retracement level of 1.0358 to 1.0953 remains unchanged, the outlook will remain bullish.
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