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market analysis
Trump announces global reciprocal tariffs, U.S. economic outlook hits
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Trump announced the imposition of global reciprocity tariffs, and the US economic prospects have been hit." Hope it will be helpful to you! The original content is as follows:
On April 3, early trading in the Asian market on Thursday, Beijing time, the US dollar index hovered around 103.17. On Wednesday, the U.S. economic outlook hit the dollar index closed down 0.49% to 103.73 as Trump announced the imposition of global reciprocity tariffs. The benchmark 10-year U.S. Treasury yield closed at 4.1270%; the two-year U.S. Treasury yield closed at 3.8630%. Supported by safe-haven demand and weakening of the dollar, gold prices rose to a record high on Wednesday, and spot gold eventually closed up 0.xmaccount.com83% at $3,139.31 per ounce. Spot silver finally closed down 1.14% at $33.70 per ounce. After Trump's tariff policy was released, international oil prices plummeted sharply, from rising to falling. WTI crude oil finally closed down 0.58% at $70.65 per barrel; Brent crude oil closed down 1.52% at $73.63 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 103.17. The U.S. dollar index fell in trading on Wednesday, hovering around the 104.00 region after President Trump confirmed widespread tariffs on global imports. The initial surge in yields and volatility gave way to a more cautious tone, with details showing a 10% general tariff and an additional 25% tariff on imported cars. Despite this announcement, it lacks radical color of market concerns.This leads to a partial withdrawal of safe-haven funds. Technically, if the U.S. dollar index remains below the 104.00 level, it will move towards the nearest support level, which is in the 103.20–103.40 range.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On Thursday, gold trading around 3163.56. Gold prices continued to rise on Wednesday, up 0.71%, but gold remained unchanged as the Asian session began on Thursday. The American Liberation Day has finally arrived. US President DonaldTrump announced that the United States will impose a 10% tariff on all imports and a 25% tariff on cars. These tariffs will xmaccount.come into effect on April 3.
2) Analysis of crude oil market trends
On Thursday, crude oil trading around 69.25. International oil prices rose slightly as U.S. President Donald Trump is about to announce a plan for reciprocity. The market is generally concerned that the move will increase investment uncertainty, increase the risks of global trade wars, and may put a suppression on crude oil demand.
Forex market trading reminder on April 3, 2025
①09:45 China's March Caixin Service Industry PMI
②14:30 Switzerland's March CPI monthly rate
③15:50 France's March service industry PMI final value
④15:55 Germany's March service industry PMI final value
⑤16:00 Eurozone's March service industry PMI final value
⑥16:30 UK's March service industry PMI final value
⑦17:00 Eurozone's February PPI monthly rate
⑧19:30 US Challenger Enterprise layoffs
⑨19:30 European Central BankMinutes of the Monetary Policy Meeting in March
⑩20:30 Number of initial unemployment claims in the week from the United States to March 29
20:30 US February trade account
21:45 US S&P Global Services PMI final value in March
22:00 US March ISM non-manufacturing PMI
22:30 US March EIA natural gas inventories
00:30 US Federal Reserve Vice Chairman Jeffer delivered a speech
02:30 US the next day
02:30 Fed Director Cook made a speech
The above content is all about "[XM Foreign Exchange Market Analysis]: Trump announced the imposition of global reciprocity tariffs, and the US economic prospects were hit." It was carefully xmaccount.compiled and edited by the XM Foreign Exchange editor. I hope it will be helpful to your transactions! Thanks for the support!
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