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The global market encountered "Black Monday" and the White House urgently refuted the rumors and suspended tariffs!
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Hello everyone, today XM Forex will bring you "[XM official website]: The global market encounters "Black Monday" and the White House urgently refutes rumors and suspends tariffs!". Hope it will be helpful to you! The original content is as follows:
On April 8, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered around 103.1825. On Monday, the US dollar index remained upward and finally closed up 0.56% to 103.5. The benchmark 10-year U.S. Treasury yield closed at 4.177%; the two-year U.S. Treasury yield closed at 3.769%. Spot gold shocked during the day, with an intraday amplitude of nearly $100. It once rebounded above the $3,050 mark in the Asian session, then quickly fell and fell below the $3,000 mark, falling to $2,956.66, and finally closed down 1.85% at $2,982.55/ounce. Spot silver rebounded slightly, eventually closing up 1.63% to $30.06 per ounce. International oil prices continued to fall, and fell by more than 3% during the session. WTI crude oil fell to an intraday low of $58.75 for a while during the session, and then rebounded, eventually closing down 2.16% to $60.74/barrel; Brent crude oil closed down 2.27% to $64.23/barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 103.18. The market initially rose as the U.S. considered imposing a 90-day tariff suspension on all countries except China, and the news was revealed by Kevin Hassett, director of the National Economic xmserving.commission (NEC). After a White House spokesman refuted the report as false, optimism briefly subsided, and safe-haven capital inflows heated up again, dragging down stock markets. Technically, if the US dollar index successfully closes at 103Above the resistance level of .20–103.40, it will move towards the next resistance level in the range of 104.50–104.65.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On Tuesday, gold trading around 2987.81. Gold prices continued its pain on Monday, plunging more than 2%, as investors sought safe assets and bought the dollar, while U.S. trade policy exacerbated speculation about a global recession. The strong dollar returned after hitting a six-month low last week after U.S. President Trump announced reciprocal tariffs on Wednesday. Last Friday, China retaliated against all imports from the United States with a 34% tariff, triggering turmoil in financial markets, and most global stock indexes fell.
2) Crude oil market trend analysis
On Tuesday, crude oil traded Invest around 60.88. International crude oil prices fell nearly 2%, approaching a four-year low, and market concerns about the outlook for global energy demand surged sharply during the trading day. During the session, crude oil prices fluctuated sharply. It fell more than $3 per barrel at night during the session, and on Monday morning, a brief rebound occurred due to a report that Trump may suspend tariffs for countries other than China for 90 days, with a maximum increase of more than $1. But the White House quickly denied the report, calling it "fake news", and oil prices turned down again.
Forex Market Trading Reminder April 8, 2025
1 4:45 France February trade account
18:00 US March NFIB Small Business Confidence Index
EIA released its monthly short-term energy outlook report
02:00 the next day, the Federal Reserve Daly participated in the dialogue event
04:30 the next day, the API crude oil inventories from the United States to April 4
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