From Investing.com: 2025-04-17 03:33:00

The price of gold surged by 3.58% as investors continued to seek safe-haven assets amidst escalating trade tensions between the US and China. Gold has risen over 27% this year and is currently at around $3,300. The Federal Reserve Chair, Jerome Powell, expressed concerns about the impact of tariffs on the economy and employment. Despite expectations of higher interest rates, the market anticipates a dovish stance from the Fed. XAU/USD remains bullish, but corrections may occur. Key levels to watch are resistance at $3,381 and support at $3,305.

The euro gained 1.04% against the USD due to ongoing trade conflicts between the US and China. The US dollar has been depreciating, leading to the appreciation of other major currencies like the euro. Traders are waiting for new trade deals with countries as the US seeks agreements with the UK, while deals with China and the EU may take longer. The European Central Bank is expected to announce its interest rate decision and economic outlook, which could impact the EUR/USD pair significantly.

The Japanese yen rose by 0.99% against the USD as investors sought safe-haven currencies amidst recessionary fears caused by global trade tariffs. President Trump reported progress in tariff talks with Japan, making a deal a top priority. Ongoing trade negotiations may impact USD/JPY, with key levels to watch at resistance 143.200 and support at 142.300. Traders should also monitor the US Jobless Claims report for potential volatility in USD pairs.



Read more at Investing.com: Gold Hits Multi-Year Highs on Trade War Jitters and Dovish Fed Expectations