The price of Gold (XAUUSD) has reached a new peak above $2,946 in European trading, spurred by geopolitical tensions following statements from President Donald Trump about Ukraine and stricter tariff policies. Nevertheless, the upcoming release of the FOMC minutes may influence market sentiment and gold price movements in the future.<\/p>\n
Here are the data from Trading Central:<\/p>\n
U.S. housing data; forecast -0.8% vs previous -0.7%<\/p>\n
GOLD<\/strong><\/p>\n The price of Gold (XAUUSD) has continued its bullish trend this week, surpassing the level of $2,946 during the European trading session on Wednesday. This increase is fueled by firm statements from President Trump regarding Ukraine, which have heightened tensions following initial talks between U.S. and Russian officials. Trump also confirmed that a 25% tariff on auto imports will be enforced, with this tariff extension also affecting pharmaceuticals and semiconductors.<\/p>\n Conversely, the minutes from the Federal Open Market Committee (FOMC) meeting in January, set to be released by the Fed, could pose a limiting factor for Gold. Some Fed officials have indicated that current interest rates are adequate, despite ongoing inflation concerns.<\/p>\n OIL<\/strong><\/p>\n The price of oil continued to rise through the European session, hitting a high of 72.54. There has not been significant change in sentiment; oil prices remain supported by supply disruption concerns in Russia. A Ukrainian drone strike severely damaged a key Russian pipeline pumping station, potentially reducing oil flows from Kazakhstan by 30-40%, which is estimated to lower global supply by approximately 380,000 barrels per day, keeping the market poised for further price increases this afternoon.<\/p>\n This potential rise appears likely to persist through the U.S. trading session tonight. However, concerns regarding President Trump\u2019s tariff policies and potential trade wars could limit further increases in oil prices.<\/p>\n EURUSD<\/strong><\/p>\n The EURUSD pair dropped to around 1.0420 during the European session on Wednesday, as the U.S. dollar (USD) strengthened due to various factors. The rise in the U.S. dollar index has been driven by market worries regarding President Trump’s tariff policies.<\/p>\n On Tuesday, Trump announced plans to impose a 25% tariff on imported vehicles, semiconductors, and pharmaceuticals, escalating global trade tensions. While Trump has not confirmed a start date for these tariffs, he indicated that some could take effect on April 2. These worries have spurred demand for the USD as a safer currency amid global uncertainties, causing a downward pressure on the EURUSD pair.<\/p>\n GBPUSD<\/strong><\/p>\n GBPUSD received a positive sentiment boost following the release of U.K. inflation data for January, which showed inflation rising faster than expected. Yearly inflation recorded a 3% increase, surpassing the estimate of 2.8% and December’s rate of 2.5%. Meanwhile, core inflation, excluding volatile components such as food, energy, alcohol, and tobacco, rose to 3.7%, exceeding the previous 3.2% and aligning with forecasts.<\/p>\n However, the strengthening of the U.S. dollar (USD) driven by factors related to market concerns over President Trump’s tariff policies has triggered selling pressure on GBPUSD, likely to continue into the U.S. session tonight.<\/p>\n USDJPY<\/strong><\/p>\n The USDJPY currency pair has moved lower as market sentiment becomes increasingly optimistic, with many investors anticipating that the Bank of Japan (BoJ) will hike interest rates further, driven by rising inflationary pressures in Japan. The prospect of a more hawkish monetary policy from the BoJ continues to support the strengthening of the Yen, increasing JPY’s appeal in global markets.<\/p>\n NASDAQ<\/strong><\/p>\n Nasdaq decreased to a low of 22,202 due to profit-taking actions following a lengthy rally. Concerns regarding high inflation and President Trump’s trade policies have triggered this sell-off.<\/p>\n However, the overall market remains supported by opportunities in technology stocks and other sectors with bright prospects that could serve as positive catalysts for Nasdaq.<\/p>\n","protected":false},"excerpt":{"rendered":" The price of Gold (XAUUSD) has reached a new peak above $2,946 in European trading, spurred by geopolitical tensions following statements from President Donald Trump about Ukraine and stricter tariff policies. Nevertheless, the upcoming release of the FOMC minutes may influence market sentiment and gold price movements in the future. Here are the data from […]<\/p>\n","protected":false},"author":4,"featured_media":21041,"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-41553","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