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[XM Foreign Exchange]: Trump confirms the final "reciprocal tariff"! The dollar index hovers above 104
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Trump confirms the final "reciprocal tariff" decision! The US dollar index hovers above 104". Hope it will be helpful to you! The original content is as follows:
On April 2, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 104.25. On Tuesday, the dollar index closed slightly higher 0.02% at 104.20 as the market was waiting and watching for Trump's upcoming reciprocal tariffs. The benchmark 10-year U.S. Treasury yield closed at 4.1770%; the two-year U.S. Treasury yield closed at 3.8870%. Gold prices have fallen due to profit-taking, but are still close to all-time highs. Spot gold finally closed down 0.31% at $3,113.40 per ounce. Spot silver finally closed down 1.14% at $33.70 per ounce. According to market news, OPEC+ is not expected to change its production increase plan in April, and international oil prices fell. WTI crude oil finally closed down 0.36% at $71.70 per barrel; Brent crude oil closed down 0.29% at $74.45 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 104.25. Weaker-than-expected ISM Manufacturing Purchasing Manager Index data, job vacancies decline and cautious xmaccount.comments add a bleak outlook to the outlook for the US dollar. Despite the slight gain, the technical background remains fragile as traders look forward to further macro drivers later this week. Technically, the US dollar index remains below resistance level 104.30–104.50. Breakthrough 104.50Levels will push the U.S. dollar index to the next resistance level 105.50–105.70.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Which trading was held in Asian trading on Wednesday, gold trading was around 3121.83. Gold prices fell on Tuesday as traders settled profits and waited for US liberation day on April 2, and President Donald Trump is expected to announce tariffs to improve the imbalance in the trade deficit. The U.S. stock market reflects that market sentiment remains mixed. Investors are looking forward to the latest U.S. tariffs released on Wednesday and speculate that these tariffs will be xmaccount.common, possibly up to 20%. The rise in gold prices stopped Tuesday, although traders remained uncertain about the extent of tariffs.
2) Analysis of crude oil market trends
On Wednesday, crude oil traded around 70.93. Intraday Asian market, crude oil trading was around $70.93. WTI prices rose slightly due to supply concerns after U.S. President Donald Trump threatened Russia with oil tariffs. However, crude oil upside potential is limited as traders prepare for the reciprocal tariffs that Trump will announce on Wednesday.
Foreign exchange market trading reminder on April 2, 2025
①To be determined Domestic refined oil opens a new round of price adjustment window
②To be determined US President Trump announced import tariff policy
③20:15 US ADP employment in March
④22:00 US February factory order monthly rate
⑤22:30 US EIA crude oil inventories in the week from March 28
⑥ 22:30 EIA Cushing crude oil inventories in the week from the United States to March 28
⑦22:30 EIA strategic oil reserve inventories in the week from the United States to March 28
⑧The next day, 03:00 US President Trump announced the details of reciprocal tariffs
⑨The next day, 03:45 ECB President Lagarde delivered a speech
⑩The next day, 04:00 US President Trump delivered a speech
The next day, 04:30 US Federal Reserve Director Kugler delivered a speech
The next day, 06:00 RBA Chairman Brock attended the hearing
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