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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn]: Trump's "highlight moment" is approaching!, wait for "small non-agricultural" tonight. Hope it will be helpful to you! Original content is as follows:
Earlier on Wednesday, volatility in financial markets continued as investors prepared for tariffs announced by U.S. President Donald Trump at 20:00 GMT. The U.S. economic calendar will include changes in ADP employment in March and factory order data in February. Market participants will also closely monitor the avatradescn.comments of the central bank governor.
U.S. Treasury Secretary Scott Bessent said late Tuesday that the amount announced Wednesday was the highest amount of tariffs. However, countries can take measures to reduce tariffs. Meanwhile, the Wall Street Journal reported that policy writers at the Office of the U.S. Trade Representative are collated to submit a third tariff option to Trump with the goal of reducing the tariff targets into a simpler, more streamlined product to achieve a avatradescn.comprehensive unified tax rate.
The US dollar (USD) struggled to strengthen on Tuesday after disappointing JOLTS job openings and ISM Manufacturing Purchasing Managers Index data released. In early European session on Wednesday, the U.S. dollar index fluctuated in a narrow channel above 104.00, while U.S. stock index futures fell slightly on the day.
Basic foreign exchange market trends:
Euro/USD fell slightly on Tuesday, and consolidated sideways within a narrow range below 1.0800. Several European Central Bank (ECB) policymakers will speak later that day.
The GBP/USD failed to make decisive moves in either direction and remained flat on Tuesday. The pair continues its sideways trading slightly above 1.2900 and begins the European session on Wednesday.
The US dollar/yen closed slightly lower on Tuesday, but was successfully found around 149.00support. The pair rose slightly higher, trading above 149.50 in early European trading.
Bulle market fundamentals:
As a safe-haven asset, gold prices are still strongly supported. Spot gold rose 0.2% to $3,116, close to the all-time high set in the previous trading day. Gold has risen 19% this year, coupled with a 27% increase in 2024, making it the best annual performance in the past decade.
Oil prices remained stable as traders awaited tariff news. Brent crude oil futures changed little, at $74.45 per barrel, while US WTI crude oil futures were trading around $71.20.
Analysis of major currency trends:
Euro: The intraday bias of the euro/dollar remains neutral at present. 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. However, a firm breakthrough to 1.0358 to 1.0953's 38.2% retracement level 1.0726 will bring a deeper correction to 55DEMA (now at 1.0650).
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