Gold continues to trend upward steadily despite ongoing market uncertainty. After briefly dipping below the $3,000 mark, buyers stepped in near the 50-day moving average, triggering renewed demand driven by safe-haven interest. The metal initially surged to a new high of $3,167 following tariff-related news, then dropped $120, only to recover again.
btc-usd
Forex Signals Brief April 7: Is This the Week That Dow Jones DJIA and Tech Stocks Bounce?
Skerdian Meta•Monday, April 7, 2025•3 min read
Last week stock markets and the USD tumbled after the tariff announcement, so there’s a chance that we might see a rebound this week, if countries start making deals and concessions, which would improve the risk sentiment.
Stock markets were climbing higher in the first half of last week, with hopes that tariffs would be less severe, but turned lower after the tariffs announcement. Most major tech stocks crashed 10-15% lower in the last two days of the week, pulling S&P 500 and Nasdaq down as well.
The USD also fell, sending EUR/USD to 1.1140s, however it pulled back some and closed the week below 1.10. Most major currencies ended up higher against the USD, apart from the AUD and NZD which gave back all their gains ad some more.
Gold continued to surge, reaching $3,167 by Thursday, but gave back more than $100, to close the week in loss. Oil prices also collapsed after China retaliated to US tariffs, while OPEC+ unexpectedly stated it would ramp up crude production faster than previously planned. Combined with concerns over a trade war and global slowdown, this dragged WTI crude oil down to $60.50 on Friday.
This Week’s Forex Events
This week the economic calendar is light, the RBNZ rate cut and US CPI inflation being the main forex events. However, the market sentiment will be decided by the tariff chatter. There will likely be negotiations, after US President Donald Trump said he’s open to deals if countries offer something “so phenomenal” and that the tariffs give the US great power to negotiate.
Weekly Economic Highlights (Apr 8–12, 2025)
🔸 Monday: Key Data from Japan & Eurozone
Japan: February Cash Earnings – signals wage pressure and potential inflation.
Germany: February Trade Balance – tracks exports/imports amid global trade uncertainty.
Eurozone:
Retail Sales (Feb) – consumer activity snapshot.
Sentix Investor Confidence (Apr) – sentiment indicator for EZ outlook.
🔸 Tuesday: Quiet Session
No major scheduled events or data releases.
🔸 Wednesday: Central Bank Focus
FOMC Minutes – detailed insight into Fed’s March policy stance.
RBNZ Announcement – New Zealand interest rate decision and economic outlook.
RBI Announcement – Reserve Bank of India policy update amid inflation concerns.
🔸 Thursday: CPI Day & Global Data
China (Mar): Inflation data – closely watched post-NPC policy signals.
Sweden (Feb): GDP data – growth pulse for Nordic region.
Norway (Mar): CPI figures – for NOK traders.
Taiwan (Mar): Trade Balance – export health check.
USA (Mar): CPI – key inflation reading influencing Fed path.
🔸 Friday: UK & US Dominate
UK (Feb): GDP estimate – critical for BOE policy projections.
USA:
PPI (Mar): Producer-side inflation insights.
UoM Consumer Sentiment (Apr prelim): inflation and spending expectations.
Q1 2025 Earnings Season begins – major banks likely to report first.
The U.S. stock market and the dollar experienced weakness throughout the week apart from Friday when it reclaimed some of the losses, with extreme volatility dominating trading activity. As a result, we executed 39 trading signals this week, with 25 wins and 14 losses, navigating the unpredictable market swings.
Gold Tests the 20 Daily SMA
XAU/USD – Daily Chart
USD/CHF Tumbles 3 Cents Lower
In currency markets, USD/CHF has been notably volatile due to shifting global risk sentiment. The dollar initially strengthened, pushing the pair above 0.8850 early in the week. However, resistance at the 100-day moving average halted further gains, and USD/CHF dropped around 3 cents as broader markets turned risk-averse.
USD/CHF – Daily Chart
Cryptocurrency Update
Bitcoin Slips Below the $80K Level Again
Bitcoin climbed $5,000 over the week, supported by increasingly dovish signals from the Federal Reserve. Still, the rally stalled near the 20-day moving average, and the break below the 200-day average raised concerns about more downside ahead.
BTC/USD – Daily chart
Ripple XRP Tests the $2 Support
Ripple (XRP) spiked to $2.98 in early March after President Trump discussed digital assets in the context of a planned National Crypto Reserve. However, when it became clear that XRP, Solana, and Cardano would not be part of the reserve, the excitement faded. XRP dropped below $2, found support at $1.90, and slightly rebounded to $2.07 by Saturday. Overall, the crypto market remains cautious, reflecting broader economic uncertainty.
XRP/USD – Daily Chart
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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