High volatility in financial markets continued during trading on Monday (April 15, 2025), reacting to the latest policies from US President Donald Trump. On Friday evening, Trump announced a delay in raising import tariffs on electronic products from all countries. Then, on Sunday, he specified that electronic products would be subjected to specific import tariffs.
The changing dynamics of these import tariffs are expected to significantly impact market movements during trading on Monday (April 14, 2025).
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GOLD
Gold prices (XAUUSD) soared over a span of three trading days last week, reaching an all-time high of around $3,245 per troy ounce. However, today, the price fell to $3,209 per troy ounce in response to Trump’s latest policy actions.
Following this dip, Gold rebounded to its previous record of $3,245 per troy ounce before experiencing some correction. This volatility in Gold prices suggests that the market is awaiting more clarity on the policies that Trump plans to implement.
Similar movements are likely to continue in European trading sessions, with the high positions indicating that Gold may face some profit-taking actions.
OIL
The dynamics of the trade war have made Oil prices (CLS10) highly volatile over the past week, as they plummeted to around $55 per barrel before bouncing back above $61 per barrel. The news of delaying electronic import tariffs has sparked hopes for US-China negotiations that could ease trade war tensions.
If both parties reach a trade agreement, the pressure on the global economy would lessen, meaning that Oil demand may not fall drastically. This sentiment will continue to influence Oil movements in today’s trading.
EURUSD
Trump’s delay on reciprocal policies towards all countries except China led to a surge in the EURUSD currency pair on Thursday and Friday of last week. At one point, this pair peaked at 1.14736, the highest level since February 2022.
In today’s trading, the EURUSD dipped briefly before reversing to rise again, indicating that sentiment around the EURUSD remains positive and is expected to carry on into European trading sessions.
GBPUSD
GBPUSD experienced a sharp rise over three consecutive days leading up to Friday of last week, and this morning also saw volatile movements. In addition to benefiting from positive sentiment due to the delay in reciprocal tariffs, pressure on the US dollar, as the Fed is anticipated to cut interest rates more aggressively, has also provided support for GBPUSD.
This sentiment will continue to affect GBPUSD movements during European trading.
USDJPY
The USDJPY pair suffered a significant drop on Thursday and Friday of last week, reaching its lowest level since late September 2023. The slowdown in inflation in the United States has caused market participants to expect the Fed to cut interest rates faster and more aggressively this year.
This situation continues to exert pressure on the USDJPY and will likely be felt in the European trading session.
Nasdaq
The Nasdaq experienced turbulence last week in response to the dynamics of import tariffs. The delay of reciprocal policies drove the Nasdaq to its largest daily performance since January 2001 on Wednesday last week.
Following this, the Nasdaq remained volatile and this morning experienced a gap up, climbing back above 19,000. Trump’s postponement of the increase in import tariffs on electronic goods offers a positive outlook for the Nasdaq.
