From Investing.com: 2025-04-03 05:36:00

Gold prices surged by 0.74% as US President Trump announced reciprocal tariffs on over 120 countries, sparking fears of a global trade war. The aggressive tariffs could lead to market sell-offs and a weaker US dollar, making gold a safe-haven asset. XAU/USD hit a new high above $3,160 per ounce, with $3,200 as the new target. Watch for China and the EU’s response to the tariffs and US economic reports for market volatility.

The euro rose by 0.57% against the US dollar after Trump’s tariffs on the EU. The escalating trade war raises recession fears and weakens the US dollar. Ursula von der Leyen warned of dire consequences for the global economy. Expect volatility as countries negotiate tariff levels. EUR/USD may reach 1.10000, with key levels at 1.10000 resistance and 1.08800 support.

The Canadian dollar gained 0.5% against the USD as Trump’s tariffs sparked trade war fears. Canada plans to fight unjustified trade actions and won’t face additional tariffs for now. As tensions rise and countries retaliate, markets shift to risk-off mode, weakening the US dollar. USD/CAD dropped to a one-month low, with key levels at 1.42450 resistance and 1.41800 support. Watch for global reactions to tariffs and US economic data for market direction.



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