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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Aihua Foreign Exchange Official Website]: Trump really wants to take action and the market flees the United States on a large scale!" Hope it will be helpful to you! The original content is as follows:
As the market grows more concerned about the independence of the Federal Reserve and the recession caused by President Donald Trump's new trade regime, gold continues to shine as the preferred safe-haven asset. The European aihuaforex.commission will release preliminary data on April consumer confidence index later that day. The U.S. Economic Calendar will not release any advanced data, but investors will closely follow aihuaforex.comments from Fed policymakers.
In a social media post on Monday, Trump accused Fed Chairman Jerome Powell of cutting interest rates at the end of 2024 for political reasons, calling him "Mr. Too late."
"Many people called for a preemptive rate cut. With the sharp drop in energy costs, food prices (including Biden's egg disaster) fell sharply, and most other 'thing' are on a downward trend, with little inflation," Trump said on Truthsocial, adding:
"Because these costs are on such a good downward trend, as I predict, there will be little inflation, but the economy may slow down unless the main loser Mr. TooLate is now lowering interest rates. Europe has 'lowered' seven times.
Basic Forex Market Quotes:
The U.S. dollar index stabilized below 98.50, while U.S. stock index futures traded in the upward zone.
Euro/USD benefited from widespread selling pressure around the U.S. dollar and hit a multi-year high above 1.1570 on Monday. The pair remained near 1.1500 on Tuesday, in a consolidation phase.
The GBP/USD rose for the tenth consecutive trading day on Monday and hit a 2025 high above 1.3400. The pair remained on Tuesday in EuropeTo calm and fluctuate within a narrow channel near 1.3380.
In a quarterly review of the national regional economic situation, the Japanese government maintained its overall economic assessment, but warned that U.S. trade policy would lead to an increase in downside risks. The U.S. dollar/yen continued to fall to 140.00 after falling nearly 1% on Monday, trading at its lowest level since September.
Bulle market fundamentals:
The weakening of the US dollar and the demand for safe-haven assets drove the gold price to a new high, breaking through US$3,499.83, but the price stopped near the 3500 mark and has now fallen back to 3465.
Oil prices are under pressure due to concerns about a global economic slowdown and the expectation of OPEC's possible increase in production. But oil prices rebounded slightly on Tuesday, with Brent crude rising 45 cents to $66.70 a barrel and U.S. crude rising 65 cents to $63.73.
Analysis of major currency trends:
Euro: The intraday bias of the euro/dollar is still on the upward trend. The current rise from 1.0176 should be targeted at a 161.8% forecast of 1.0358 to 1.0953, and next from 1.0731 to 1.1694. On the downside, a small support level below 1.1357 will make the intraday bias neutral and consolidate again, then rebound again.
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