U.S. Stocks, Currencies Plunge Again as Gold Closes in on 2,900 Mark as Trump Says: 25% Tariff Hike

TOPONE Markets | 2025-03-04 11:41

Zusammenfassung：Hot spot trackingTrump said that reciprocal tariffs will go into effect on April 2, while the 25% tariffs on Canada and Mexico will go into effect on March 4, and that there is no room for negotiation

Hot spot tracking

Trump said that reciprocal tariffs will go into effect on April 2, while the 25% tariffs on Canada and Mexico will go into effect on March 4, and that there is no room for negotiation with these two countries. Tariffs will be imposed on countries that use currency devaluation tactics to sanction them. This news is negative for the US dollar.

Trump says he will consider a free trade deal with Argentina. Tariffs will be imposed on imported agricultural products from April 2nd. This news is negative for the US dollar.

The OPEC+8 countries led by Saudi Arabia and Russia unexpectedly announced that they will continue to push for an increase in oil production in April. This news is negative for crude oil.

Product Hot Comment

Forex
ProductYesterday's ChangeYesterday's CloseToday's OpenEUR/USD▲0.80%1.048651.04879GBP/USD▲0.87%1.271.27026AUD/USD▲0.24%0.622740.62227USD/JPY▼-0.79%149.504149.578GBP/CAD▲1.13%1.838551.84014NZD/CAD▲0.55%0.813090.81355
📝 Review:On Monday, as U.S. economic data provided mixed signals and the market was worried about the U.S. economic situation, the U.S. dollar index continued to decline during the day and fell below the 107 mark, finally closing down 0.94% at 106.54.
🕵️ Operation suggestion:USD/JPY 149.330 Sell Target Price 148.697

Gold
ProductYesterday's ChangeYesterday's CloseToday's OpenGold▲1.30%2893.032892.3Silver▲1.70%31.67631.665
📝 Review:Because of the dollar weakness and worries about U.S. President Trump's tariff policy triggered safe-haven buying, spot gold rebounded more than 1% during the day, once close to the $2900 mark, but failed to charge up here, and eventually closed 1.24% higher at $2893.67/ ounce.
🕵️ Operation suggestion:Gold 2890.37 Sell Target Price 2855.29

Crude Oil
ProductYesterday's ChangeYesterday's CloseToday's OpenWTI Crude Oil▼-2.09%68.2468.242Brent Crude Oil▼-2.58%71.35771.379
📝 Review:Both oils fell more than 2% on Monday and hit new lows in nearly six months as OPEC+ confirmed an increase in production for April. WTI crude continued to move lower in the U.S. session and dived at the end of the day, falling to $67 at one point, before finally closing down 2.16% at $68.23/ barrel.
🕵️ Operation suggestion:WTI Crude Oil 68.059 Sell Target Price 67.595

Indice
ProductYesterday's ChangeYesterday's CloseToday's OpenNasdaq 100▼-2.27%20456.7520499.35Dow Jones▼-1.35%43212.443276S&P 500▼-1.66%5858.955867.15US Dollar Index▼-0.80%106.29106.28
📝 Review:U.S. stocks were pressured by Trump's trade policy comments, with all three major stock indexes falling. The Dow closed down 1.48%, the S&P 500 lost 1.76%, and the Nasdaq lost 2.64%. Chip stocks generally fell, NVIDIA (NVDA.O), Arm (ARM.O) fell more than 8%, Intel (INTC.O) fell 4%. Tesla (TSLA.O) fell 2.8%.
🕵️ Operation suggestion:Nasdaq 100 20487.950 Sell Target Price 20270.700

Crypto
ProductYesterday's ChangeYesterday's CloseToday's OpenBitCoin▼-9.41%85331.586576.9Ethereum▼-16.82%2109.62163.9Dogecoin▼-18.06%0.19380.19945
📝 Review:Overall, the Bitcoin market is showing a clear bullish advantage. As of the close of trading, Bitcoin price is still below 93,000. At 11pm last night, Bitcoin stepped back to the 233 SMA on the 30-minute cycle, but did not break it. It then quickly rose 10,000 pips, with a 17,000-point difference from the daily low, which is quite a strong move. However, the market trend in the last few days has been almost a double-whammy situation, making it more difficult to see a unilateral market with large fluctuations. Currently, there is a high probability that a 30-minute pivot zone will be formed at the current position. The strong support levels below are at 89,000 and 87,000 respectively. Personally, I think it is less likely that Bitcoin will continue to surge after the strong uptrend, and it is not appropriate to chase the rally at this time, so I suggest that we analyze and look at the subsequent trend from the perspective of the oscillator market.
🕵️ Operation suggestion:BitCoin 86148.1 Sell Target Price 81959.3