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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Trump's "small composition" of suspending 90-day reciprocity tariffs has come true, the US dollar will fall first and then open." Hope it will be helpful to you! The original content is as follows:
On April 10, in the early trading of the Asian market on Thursday, Beijing time, the US dollar index hovered around 102.72. On Tuesday, the US dollar index fell and fell below the 103 mark, eventually closing down 0.51% to 102.97. The benchmark 10-year U.S. Treasury yield closed at 4.304%; the two-year U.S. Treasury yield closed at 3.738%. Spot gold continued to rise and fall during the day. It once rebounded above the $3020 mark before the US session, and then gave up all the gains, falling again to $3000 mark, falling to $2974.76, and finally closed flat at $2982.56/ounce. Spot silver closed down 0.85% at $29.73 per ounce. International oil prices continued to fall, falling 4% again. WTI crude oil fell by more than 5% during the session, hitting a new low since April 12, 2021, and finally closed down 4.74% at $57.86 per barrel; Brent crude oil closed down 4.52% at $61.33 per barrel.
Dollar Index: As of press time, the US dollar index hovers around 102.72. After the minutes of the Federal Reserve's March meeting were released, policy makers pointed out that there will be "hard trade-offs" in the future, citing the risk of a combination of rising inflation and slowing growth. Technically, from a technical point of view, the US dollar index found support around 102.00 and tried to rebound above 102.50. If this attempt is successful, the U.S. dollar index will move towards the nearest resistance level, which is in the range of 103.20–103.40.
Term analysis
Term trading around 3091.06 on Thursday. Gold prices rose more than 3% after Trump approved the suspension of tariffs, trying to recover the high of $3100 per ounce and are expected to usher in the best performance since October 2023. Trump said he authorized the suspension of new tariffs on many countries for 90 days, although he raised tariffs on Chinese imports and took effect immediately. Investors fled the stock market and industrial commodities to invest in gold due to concerns that tariffs would trigger inflation and hinder economic growth.
2) Analysis of crude oil market trends
On Thursday, crude oil trading around 61.38. Crude Oil Following Donald Trump's announcement that he will suspend tariffs on non-retaliatory countries for 90 days. At the same time, he also raised China's tariffs to 125%.
Technical: If WTI oil prices climb above the resistance level between $62.50 and $63.00, it will move towards the next resistance level of $67.00 – $67.50.
Forex market trading reminder on April 10, 2025
①09:30 China's March CPI annual rate
②18:00 RBA Chairman Brock delivered a speech
③20:30 US March CPI annual rate
④20:30 US March seasonally adjusted CPI monthly rate
⑤20:30 US March seasonally adjusted CPI monthly rate
⑤20:30 US March seasonally adjusted CPI monthly rate
⑥20:30 US March seasonally adjusted core CPI monthly rate
⑦20:30 US March seasonally adjusted core CPI annual rate
⑧20:30 US Federal Reserve Pakistan Erkin delivered a speech and participated in the Q&A
22:00 Fed Schmid delivered a speech on economic and monetary policy
⑩22:30 EIA natural gas inventories in the United States to April 4
? The next day, EIA released its monthly short-term energy outlook report
? The next day, the Fed Goulsby delivered a speech at the New York Economic Club
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