Dollar Rout Deepens; Gold Charges Toward 3500, or Even 4000?
| Action Insight Daily Report 4-22-25 |
Dollar Rout Deepens; Gold Charges Toward 3500, or Even 4000? |
The broad selloff in US assets resumed overnight as market confidence took another blow from escalating political pressure on Fed. Major US stock indexes ended the session deep in the red, while 10-year Treasury yields surged back above 4.4%. The Dollar Index also plunged to a fresh three-year low, continuing its dramatic collapse. The key catalyst: another public attack by US President Donald Trump, who took to Truth Social to call Fed Chair Jerome Powell a “major loser” and demanded that interest rates be cut “NOW” to avoid a economic slowdown. Trump’s renewed rhetoric has intensified concerns about Fed’s independence at a time of high uncertainty due to his own tariff policies. The central bank has so far resisted political pressure, and more Fed officials are set to speak today. Markets expect them to defend the institution’s autonomy and reaffirm their data-dependent approach. Given the current policy fog, particularly surrounding Trump’s shifting trade stance, officials are likely to emphasize the need for further clarity before making any policy adjustments.... |
USD/JPY Daily Outlook Daily Pivots: (S1) 140.18; (P) 141.16; (R1) 141.85; More... Intraday bias in USD/JPY remains on the downside for the moment. Current fall from 158.86 is in progress for 139.57 support. Strong support could seen from 139.26 fibonacci level to bring rebound. On the upside, above 141.60 minor resistance will turn intraday bias neutral first. However, decisive break of 139.26 will carry larger bearish implications, and target 138.2% projection of 158.86 to 146.52 from 151.20 at 134.14. | |
| GMT | Ccy | Events | Actual | Forecast | Previous | Revised |
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| 22:45 | NZD | Trade Balance (NZD) Mar | 970M | 80M | 510M | 392M | | 12:30 | CAD | Industrial Product Price M/M Mar | 0.30% | 0.40% | | 12:30 | CAD | Raw Material Price Index M/M Mar | 0.00% | 0.30% | | 14:00 | EUR | Eurozone Consumer Confidence Apr P | -15 | -15 |
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