The global market encountered "Black Monday" and the White House urgently refuted the rumors and suspended tariffs!

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 aihuaforex.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 U.S. dollar index successfully closes above the resistance level of 103.20–103.40, it will be at 104.50–The next resistance level in the 104.65 range moves.

Euro: As of press time, the euro/dollar hovers around 1.0938. On Monday, the euro/dollar fell again, marking the second consecutive day of Fiber's decline, pushing buying to the 1.0900 level. After a brief rest, the US dollar regained control of risks and avoided flows, and the weakening of investor sentiment further enhanced the overall performance of the US dollar. Technically, if the EUR/USD closes below support level 1.0920–1.0935, it will go towards 50MA1.0867.

GBP: As of press time, GBP/USD is hovering around 1.2758. After a week of tension, the United States has turned aihuaforex.completely to a protectionist trade stance (but lacks the industrial infrastructure to support it), extensive import tariffs have been introduced, and the United States imposes a 10% import tax on all goods in all countries, as well as various "reciprocal" tariffs derived by dividing U.S. import from exports. After imposing an additional 34% tariff on Chinese goods, China also fought back against all goods from the United States, imposing a 34% retaliatory tariff. Lack of other solutions to the problem, the Trump administration threatens to impose an additional 50% tariff on all Chinese goods, which is expected to take effect on April 8. Technically, if GBP/USD successfully closes below the 1.2680 level, it will move to the next support level, which is in the range of 1.2560–1.2580. RSI is in the oversold area, so the risk of a rebound is increasing.

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.

Technical: Gold prices are plummeting, sellers continuePush the price down below the $3,000 mark. The Relative Strength Index (RSI) fell sharply and turned bearish, suggesting that gold metals could consolidate near the 50-day simple moving average (SMA) from $2942 to $3000. If it falls below the former, the price may approach $2900, followed by a 100-day SMA of $2801. Conversely, if the buyer pushes gold back above $3,000, he needs to pay attention to the $3,050 test.

2) Analysis of crude oil market trends

On Tuesday, crude oil trading around 60.88. Affected by concerns about the global recession caused by the latest round of tariffs by US President Donald Trump, international crude oil prices plummeted nearly 2%, approaching a four-year low, and market concerns about the outlook for global energy demand have soared sharply. During the trading day, crude oil prices fluctuated violently. It fell by more than $3 per barrel overnight during the session, and a brief rebound on Monday morning was due to a report that Trump may suspend tariffs on 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 fell again.

Technical: Crude oil is still facing tremendous pressure as traders focus on the trade war. Donald Trump threatened to impose an additional 50% tariff on China, and traders fear that the trade war would damage demand for oil. It should be noted that RSI is in the oversold area, so the risk of rebound is increasing.

Forex market trading reminder on April 8, 2025

14:45France February trade account

18:00US March NFIB Small Business Confidence Index

EIA released its monthly short-term energy outlook report

02:00EIA will participate in the dialogue event

04:30USA to April 4

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