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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The global trade situation continues to be tense, and Powell refuses to save the market!". Hope it will be helpful to you! The original content is as follows:
On April 17, early trading in the Asian market on Thursday, Beijing time, the US dollar index hovered around 99.49. On Wednesday, the dollar index fell again and fell to around $99 at one point, and finally closed down 0.89% at 99.26 as traders waited for whether the Trump administration would reach a new trade deal with trading partners. U.S. Treasury yields also fell, with the benchmark 10-year U.S. Treasury yields closed at 4.282%; and the two-year U.S. Treasury yields, which are more sensitive to monetary policy, closed at 3.784%. Due to the weakening of the US dollar and the escalation of trade tensions, spot gold continued to set a record rise, refreshing its all-time high to above $3,340, soaring more than $100 in the day, and finally closing up 3.49% at $3,342.19 per ounce. Spot silver closed up 1.41% at $32.74 per ounce. Affected by the new sanctions imposed by the United States on Iran's oil exports, the two oils rebounded. WTI crude oil first fell and then rose, and recovered all lost ground during the European session and turned to rise, eventually closing up 1.78% to $61.93/barrel; Brent crude oil closed up 1.48% to $65.31/barrel.
Dollar Index: As of press time, the US dollar index hovers around 99.49. With better-than-expected retail sales data in March, it rose 1.4% month-on-month to $734.9 billion, exceeding expectations of 1.3%. The annual growth rate is 4.6%, showing the resilience of consumer activities. However, market attention remains focused on trade tensions after U.S. President Donald Trump launched a new investigation into tariffs on key mineral imports — seen as escalating non-tariff measures and export controls on Chinarevenge. Technically, if the U.S. dollar index closes below the 99.50 level, it will move towards the nearest support level, which is in the 98.80–99.00 range.
On Thursday, gold trading around 3346.51. The dollar weakened as tensions between China and the United States increased, gold prices continued a record-breaking gain for the third time this week. These tensions have increased the appeal to safe-haven assets such as gold. The escalation of the trade war has turned market sentiment to pessimism, and US President Trump ordered an investigation into rare earth imports to impose tariffs to further escalate the dispute with China.
Crude oilTrading around 62.07. International oil prices have surged sharply by more than $1 as U.S. energy secretary Chris Wright said the U.S. could cut off Iran's crude oil exports across the board to force Iran to concessions on its nuclear program. Although Trump imposed a 90-day "suspended" of high tariffs on dozens of other trading partners this week, the protracted trade confrontation between the United States and China may still lead to a decline in global trade volume and disruption of shipping paths, dragging down global economic growth and weakening crude oil demand.
14:00 Swiss March trade account
20:15 European Central Bank announced interest rate resolution
20:30 Number of initial unemployment claims in the week from the United States to April 12
20:30 The total number of new homes started in March in the United States
20:30 The total number of construction permits in the United States in March
20:30 The total number of construction permits in the United States in March
20:30 US Philadelphia Fed system in April Manufacturing Index
20:45 European Central Bank Governor Lagarde held a press conference
22:30 EIA natural gas inventories in the week from the United States to April 11
23:45 Federal Reserve Director Barr delivered a speech
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