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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Aihua Foreign Exchange Platform]: The US dollar fell to a multi-year low, and gold soared into the sky." Hope it will be helpful to you! The original content is as follows:
On April 11, the US dollar (USD) still faced huge selling pressure on Thursday, and continued to weaken early Friday, with the US dollar index hitting its lowest level since July 2023, below 100.00. March Producer Price Index (PPI) data will appear in the U.S. Economic Calendar, and the University of Michigan will release the April Consumer Confidence Index data.
Increasing concerns over deepening U.S.-China trade conflict has put the U.S. economy into recession and a fierce sell-off of U.S. Treasury bonds put heavy pressure on the dollar in the second half of this week. The dollar index widened to 99.70 during the Asian trading session after falling nearly 2% on Thursday. After a brief recovery attempt in the early European session, the index turned to a avatradescn.com decline, with the last drop of more than 1% to 99.80 on the day.
Reuters reported earlier on Friday that U.S. President Donald Trump could retaliate against trade if Mexico does not supply water to the United States (US). Meanwhile, despite the U.S. decision to suspend reciprocal tariffs for 90 days, major stock indexes failed to gain traction and recorded huge losses on Thursday. Earlier on Friday, U.S. stock index futures trading was positive as overall market volatility remained high.
Basic foreign exchange market trends:
The US dollar/Japanese yen fell by more than 2% on Thursday and continued to fall on Friday. As of press time, the pair fell 1% to 143.00 on the day. Japanese Finance Minister Shun Kato said earlier on Friday that foreign exchange rates should be determined by the market and reiterated that excessive foreign exchange fluctuations will produce the Japanese economy.Have negative effects.
The US dollar/CHF fell nearly 4% on Thursday, setting its lowest single-day closing price since September 2011. A spokesman for the Swiss National Bank said Friday they would not avatradescn.comment on the valuation of the Swiss franc.
Euro/USD maintained bullish momentum after Thursday's surge and traded on Friday's European session above its highest level since March 2022 at 1.1300. ECB President Christine Lagarde will speak later in the meeting.
GBP/USD continued its upward trend for the fourth consecutive day on Friday, trading above 1.3060.
Australia/USD rose about 1% on Thursday after rising more than 3% on Wednesday. Despite widespread selling pressure around the dollar, the pair still struggled to move higher and traded below 0.6250 during the European session on Friday.
Bulle market fundamentals:
Gold/USD continued its rally earlier on Friday and hit an all-time high above $3,200.
Analysis of major currency trends:
Euro: The intraday deviation of the euro/dollar rose again, breaking through 1.1145. In addition, a breakthrough of 1.1274 indicates a significant upward trend recovery. There should be a 161.8% forecast from 1.0731 to 1.1694 to 1.0358 to 1.0953. At present, as long as the 1.0912 support level is held, the near-term outlook will remain bullish in case of a fall.
The above content is all about "[Aihua Foreign Exchange Platform]: The US dollar fell to a long-term low, and gold soared into the sky". It was carefully avatradescn.compiled and edited by Aihua Avatrade Foreign Exchange Editor. I hope it will be helpful to your trading! Thanks for the support!
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