Comprehensive Forex Update: Impact of US-China Trade Tensions on Major Currency Pairs and Precious Metals
Date: 2025-04-09 |
Forex Market Overview: US-China Trade Tensions Stir VolatilityThe Forex market today witnessed considerable fluctuations across major currency pairs and precious metals, primarily influenced by the escalating trade tensions between the United States and China. The US Dollar experienced a notable decline, impacting pairs like EUR/USD, USD/JPY, and commodity prices such as gold and silver. This article delves into the specifics of these movements and forecasts the potential future trends in the Forex landscape.USD and Major Currency PairsThe EUR/USD pair surged to 1.1050 during the European session, driven by the weakening US Dollar amidst growing concerns over the US-China trade war. Similarly, USD/JPY showed signs of oversold weakness, struggling to maintain levels above 145.00 as analysts from UOB Group suggest the possibility of further declines. The USD/CNH pair also remained volatile, with predictions indicating movements within the range of 7.3600/7.4420. The Swiss Franc (CHF) gained strength against the USD, pushing the USD/CHF pair down to cycle lows, reflecting a risk-off mood among traders.Impact on Precious MetalsGold and silver prices saw significant increases. Gold rebounded to $3,050 per ounce as markets reacted to US President Donald Trump's implementation of tariffs, which sparked a rush towards safe-haven assets. Silver followed a similar trajectory, with XAG/USD rallying above $30, a response also fueled by dollar weakness and tariff-induced uncertainties. Both metals are being closely watched as CPI data and other economic indicators could influence further price movements.Broader Market Reactions and Future OutlookOther currency pairs like NZD/USD and AUD/USD also experienced shifts due to the trade war narrative. The New Zealand Dollar showed some...
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