The reprieve from the angst of the trade war lasted a couple of days, but it has returned following Beijing's actions against Boeing and the US requiring Nvidia to get export licenses.
The US has critical rare earth metals. However, extracting and refining those metals face environmental regulations, high costs, and limited infrastructure.
Gold price (XAU/USD) continues scaling new record highs heading into the European session on Wednesday, with bulls eyeing to conquer the $3,300 mark as trade-related uncertainties continue to boost demand for traditional safe-haven assets.
GBPUSD has recently broken above its April 3, 2025 peak of 1.3207, which we identified as wave (1) in the chart. This breakout signals a bullish trend starting from the January 13, 2025 low of 1.2705, suggesting more upward movement ahead.
The current SOLUSD (Solana) chart reveals an unfinished consolidation. Analyzing the wave patterns suggests that Wave C of the ABC corrective structure is still unfolding.
The ECB is widely expected to cut rates by another 25bp on 17 April, as growth risks have intensified on the back of US tariffs. The Governing Council may highlight rates are now close to neutral, but that doesn’t rule out further tariff-led cuts.
Gold price ended Tuesday’s session on a higher note due to traders buying the precious metals amid uncertainty over US President Donald Trump's tariff plans, which has kept market participants on edge.
The USD Index's recent decline has been driven more by sentiment than fundamentals, creating a situation where, just like in 2018, the market appears to have priced in the worst-case scenario.
