USD fell, non-USD surged, gold rose slightly, investors cautious.

On Wednesday, due to concerns about the impact of tariffs on inflation and the economy, investors are now pricing the possibility of a comprehensive contraction in the US economy, as well as Trump's decision to postpone some car tariffs. The US dollar index recorded three consecutive negative readings and fell below the 105 mark, hitting a new low in nearly four months, ultimately closing down 1.15% at 104.33. The euro hit a new high against the US dollar in nearly four months and is expected to have its best week since November 2022. The yield of US Treasury bonds continues to rise, with the benchmark 10-year yield closing at 4.281%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.013%. Gold prices fell on Wednesday as investors were reluctant to make large-scale bets ahead of the release of the US employment report later this week, but concerns over the trade war kept prices above the critical level of $2900 per ounce. Trump's trade war has cast a shadow over the outlook for crude oil demand. As OPEC+signals to increase supply, international oil prices have closed negative for four consecutive trading days, plummeting to their lowest point in over three years. WTI crude oil fell nearly 4% during the day, and at one point fell to around $65, ultimately closing down 2.46% at $66.11 per barrel; Brent crude oil fell below the $70 mark and ultimately closed down 2.45% at $69.26 per barrel.