The President of the United States, Donald Trump, has once again stirred high volatility in trading on Monday, February 10, 2025. He announced plans to issue an executive order aimed at increasing import tariffs on steel and aluminum from all countries, effective as of the same day. However, he did not specify when this policy would take effect.<\/p>\n
Furthermore, Trump indicated that he would unveil a reciprocal<\/em> policy, escalating tariffs further if other nations impose increases on imports from the U.S. This move certainly carries the risk of sparking a larger trade war.<\/p>\n GOLD<\/strong> Trump’s new policies have reignited demand for Gold as a safe haven<\/em>, a sentiment likely to continue influencing Gold movements during the European trading session.<\/p>\n OIL<\/strong> Currently, Oil is hovering near a five-week low. This low positioning might ignite short covering<\/em> activities that could drive Oil prices upward. Yet, the looming risk of a larger trade war casts a shadow of negative sentiment over Oil.<\/p>\n EURUSD<\/strong> This sentiment is poised to continue impacting EURUSD’s movements during today’s European trading session.<\/p>\n GBPUSD<\/strong> In addition to the strengthening of the U.S. dollar, GBPUSD is also facing negative sentiment after the Bank of England (BoE) lowered interest rates by 25 basis points to 4.5% last Thursday. Moreover, two members of the BoE\u2019s board indicated that further cuts might be necessary, hinting at potential rate reductions in the near future.<\/p>\n Thus, negative sentiment continues to threaten GBPUSD’s stability.<\/p>\n USDJPY<\/strong> Additionally, USDJPY is at a seven-week low, suggesting possible short covering<\/em> actions that could propel its prices higher in the European session.<\/p>\n Nasdaq<\/strong> Moreover, Trump\u2019s announcement regarding reciprocal<\/em> tariffs is likely to cast a negative shadow over Nasdaq’s performance.<\/p>\n The President of the United States, Donald Trump, has once again stirred high volatility in trading on Monday, February 10, 2025. He announced plans to issue an executive order aimed at increasing import tariffs on steel and aluminum from all countries, effective as of the same day. However, he did not specify when this policy […]<\/p>\n","protected":false},"author":4,"featured_media":21040,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5170,142],"tags":[5175,5174,5176,5178,5177,5168],"class_list":["post-39486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-summary","category-news","tag-cls10","tag-eurusd","tag-gbpusd","tag-nq","tag-usdjpy","tag-xauusd"],"yoast_head":"\n
The price of Gold (XAUUSD) surged, reaching $2,879.95 per troy ounce by midday. In comparison to Friday’s trading close, Gold has risen nearly $20 or 200 pips, inching closer to its all-time high of $2,886 per troy ounce set just last week.<\/p>\n
Oil prices (CLS10) exhibited high volatility today, dipping to $70.82 per barrel before rebounding to $71.56 per barrel.<\/p>\n
The EURUSD pair plummeted to 1.02810 as today’s trading opened. It later recovered some losses, reaching as high as 1.03185. Trump\u2019s intentions to raise import tariffs have boosted demand for the U.S. dollar as a safe haven<\/em>, thereby creating pressure on EURUSD.<\/p>\n
Similarly, the GBPUSD currency pair fell to 1.23693 at the start of trading today before rebounding to 1.24032.<\/p>\n
USDJPY is exhibiting volatility in trading today, ranging from 151.208 to 152.209 as of midday. The heightened risk of a trade conflict is bolstering the strength of the U.S. dollar.<\/p>\n
The Nasdaq index dropped to 21,462 at the market open today, before recovering to 21,723. Trump’s tariff hike on steel and aluminum has generated negative sentiment, compounded by China’s new tariffs on American energy products taking effect today.<\/p>\n