The Nasdaq index experienced continued growth during Tuesday’s trading session, suggesting that market sentiment is beginning to improve, albeit with a cautious approach. Attention remains focused on the reciprocal policies of U.S. President Donald Trump, which are set to take effect next week.
GOLD
The price of Gold (XAUUSD) increased by $8.22 or 82.2 pips to reach $3,020.04 per troy ounce on Tuesday, breaking a three-day downward trend.
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Market participants are closely monitoring Trump’s reciprocal trade policy set to start on April 2nd. Under this policy, Trump plans to raise import tariffs for countries that increase tariffs on goods from the United States.
The uncertainty regarding the implementation of this policy means that Gold prices will likely remain volatile, with a potential for further increases.
OIL
Oil prices remained flat at $69.18 on Tuesday after experiencing significant volatility. The price surge was driven by Trump’s threat to impose higher tariffs on countries that purchase oil from Venezuela.
This sentiment could continue to influence oil price movements in the European trading session.
EURUSD
EURUSD has seen a five-day decline, closing at 1.07893 on Tuesday. Over these five trading days, EURUSD has dropped by 1,554 points (155.4 pips).
Negative sentiment arose from Germany after data revealed that the country’s business climate grew slower than anticipated. Although Germany is set to undertake fiscal reforms, the impact on the business climate has yet to be significant. This sentiment is expected to affect market movements during the European trading session.
GBPUSD
GBPUSD rose by 222 points (22.2 pips) to 1.29413 on Tuesday, marking two consecutive days of gains. Positive sentiment is supported by the hawkish stance of the Bank of England (BoE).
In the upcoming European session, the release of UK inflation data at 14:00 WIB could be a catalyst for GBPUSD movements. Forecasts from Trading Central suggest that the inflation rate (Consumer Price Index/CPI) for February will be 3% year-on-year (YoY), unchanged from the previous month. Meanwhile, core CPI is predicted to be 3.5% YoY, down from January’s 3.7% YoY.
GBPUSD may face downward pressure if the actual data falls short of forecasts.
USDJPY
USDJPY declined by 794 points (79.4 pips) to 149.867 during Tuesday’s trading, ending a three-day upward trend. However, by midday, USDJPY rebounded to 150.621.
This movement indicates that market participants are awaiting clarity regarding the reciprocal policy to be implemented by President Trump. This sentiment is likely to continue influencing USDJPY during the European trading session.
Nasdaq
The Nasdaq index rose by 160 points to 20,516 in Tuesday’s trading, following a sharp increase the day before.
The index received a boost from reports indicating that President Trump would apply a more flexible approach to increasing import tariffs under the reciprocal policy. This sentiment is expected to influence Nasdaq’s movements in the European trading session.
