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Trump agrees to suspend bombing of Iran for two weeks, dollar index hovers below 100
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Hello everyone, today XM Forex will bring you "[XM Forex Platform]: Trump agrees to suspend bombing Iran for two weeks, the U.S. dollar index hovers below 100." Hope this helps you! The original content is as follows:
On April 8, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 98.99. On Tuesday, investors took a wait-and-see attitude before the deadline set by the United States. The U.S. dollar index hovered near its highest level in nearly 11 months, and finally closed slightly down 0.04% at 99.64; the benchmark 10-year U.S. bond yield closed at 4.300%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.7980%. The attack on Iran continued to intensify throughout the day, but Iran showed no sign of accepting Trump's ultimatum. Spot gold fell back after rising, and finally closed up 0.86% at US$4,705.85 per ounce; spot silver finally closed up 0.25% at US$72.99 per ounce. In the early hours of Tuesday morning, Pakistan proposed a two-week ceasefire request, which Iran is actively reviewing. WTI crude oil closed down 2.07%, at $110.66/barrel; Brent crude oil finally closed down 5.71%, at $103.43/barrel; after the opening on Wednesday, Trump announced a two-week ceasefire, and WTI crude oil fell 12% during the day.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar index is hovering around 98.99. The U.S. dollar index struggled to contain downward momentum near the 100.00 mark on Monday after a volatile day. Technically, the U.S. dollar index tried to stabilize below support levels of 99.70 to 99.85. If this attempt is successful, the USD Index will move towards the next support level, which is located in the 98.85 to 99.00 range. On the upside, a break above the 50 moving average at 100.03 will open the door to challenge the resistance between 100.35 and 100.50.



1) Gold market trend analysis
In Asian trading on Wednesday, gold hovered around 4825.88. The gains, supported by some bargain hunting, were driven by signs of easing geopolitical tensions after U.S. President Donald Trump agreed to suspend bombings against Iran for two weeks. Trump announced on social media late Tuesday that he had agreed to a two-week ceasefire with Iran if Iran agreed to reopen the crucial Strait of Hormuz. A White House official confirmed that Israel had also agreed to the ceasefire.

2) Crude oil market trend analysis
In the Asian session on Wednesday, crude oil was trading around 97.11. The plunge in oil prices marks the worst blow to the "war risk premium" that has lasted for several weeks since the outbreak of the conflict, and the market seems to have expected this. Tuesday’s sell-off didn’t start with Trump’s social media posts, and oil prices actually continued to slide throughout the trading session. Traders are already familiar with Trump's pattern of setting aggressive deadlines and then extending them, and are planning ahead. By the time the ceasefire announcement was made official, the market had xmaccount.completed most of its price adjustment.

Foreign exchange market transaction reminder on April 8, 2025
10:00 New Zealand Federal Reserve announced interest rate decision
11:00 New Zealand Federal Reserve Chairman Breman held a press conference
14:00 British March Halifax seasonally adjusted house price index Monthly rate
14:45 France's February trade balance
15:00 Switzerland's seasonally adjusted unemployment rate in March
17:00 Euro zone February PPI monthly rate
17:00 Euro zone February retail sales monthly rate
22:30 United States to April 3 EIA crude oil inventory for the week of the day
22:30 EIA Cushing crude oil inventory from the United States for the week of April 3
22:30 EIA strategic petroleum reserve inventory from the United States for the week of April 3
01:00 the next day from the United States to April 8 10-year Treasury bond auction - winning interest rate
The next day at 01:00 the United States to April 8 10-year Treasury bond auction - bidding multiple
The next day at 01:05 the Federal Reserve Daly talked about economic and monetary policy
The next day at 02:00 the Federal Reserve released the minutes of the monetary policy meeting
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