From Investing.com: 2025-04-10 03:05:00

Gold prices surged over 3% in response to new US tariffs, XAU/USD saw its largest daily gain since 2023. Concerns over inflation and economic growth led investors to flock to gold as a safe-haven asset. Fed policymakers warned of risks of higher inflation and slower growth, with a 72% chance of a rate cut in June priced in by traders.

The euro initially rallied against the USD but gave up most gains after Trump’s announcement of a 90-day pause in tariffs. The ECB predicts a sharp eurozone economic downturn due to trade tariffs, impacting the euro’s status as a reserve currency.

The Canadian dollar rose 1.26% against the USD following Trump’s tariff decision. USD/CAD has been in a downward trend as traders fear a slowdown in the US economy. CAD rallied on improved global growth outlook and stability in financial markets. Both the Fed and the Bank of Canada are expected to deliver rate cuts in 2025.



Read more at Investing.com: Gold Gains on Escalating US-China Tensions and Fed Rate Cut Expectations