DBG Markets: Market Report for Apr 11, 2025

MARKET ANALYSIS

GOLDGOLD prices moved exactly as expected, breaking into new all-time highs. With both the MACD and RSI showing no signs of slowing, the bullish momentum remains strong. The intensifying US-China trade war continues to fuel risk aversion, increasing demand for safe-haven assets like GOLD. We anticipate a continued push higher.

SILVERSILVER has risen to test the EMA200, as anticipated. However, prices are stagnating slightly, likely due to GOLD overshadowing it in appeal. Once GOLD is perceived as overbought or overpriced, SILVER could see renewed interest. The MACD is picking up bullish volume, and the RSI indicates growing upside momentum. A bullish breakout may be imminent.

DXYThe Dollar is experiencing a significant drop in response to escalating tensions between the U.S. and China. Concerns over trade and economic performance are mounting, with higher import costs expected to drag on U.S. company profits and operations. Both the MACD and RSI reflect a surge in bearish momentum, and there's no sign of reversal just yet.

GBPUSDThe Pound is showing signs of strength, despite previous weakness. While the current rally seems fragile, technical indicators—MACD and RSI—suggest continued upside potential. It's important to note that much of this movement is more about Dollar weakness than inherent Pound strength. UK fundamentals remain uncertain, and policy direction will be key in the coming sessions.

AUDUSDThe Aussie Dollar has broken above the EMA200, reflecting increased bullish strength. Although the rally is still somewhat unstable, the MACD and RSI support further upside with rising volume and momentum. We expect the trend to hold, especially as global sentiment turns against the Dollar.

NZDUSDThe Kiwi continues its upward momentum, breaking key resistance levels and shifting firmly back into a bullish structure. While a pullback is possible, MACD and RSI both suggest strong momentum that could sustain further gains without a retracement. As investors seek alternatives to the Dollar, NZD remains favored.

EURUSDThe Euro is performing strongly, in line with expectations. Both volume and momentum are surging, as shown by the MACD and RSI, supporting a continued bullish outlook. The broader trend suggests this rally could have legs in the coming days.

USDJPYThe Yen has extended its gains as risk-off sentiment dominates. After repeated failures to break above the EMA200, prices have now decisively turned lower. We continue to look for bearish setups, while closely monitoring how global tensions—particularly US-China dynamics—unfold.

USDCHFThe Franc is seeing renewed selling pressure, despite brief bullish reactions. The MACD shows growing volume on the downside, and the RSI reflects increasing momentum in that direction. The current bullish candle appears overstated, suggesting sellers remain in control. We expect further downside ahead.

USDCADThe CAD remains weak, in line with our earlier outlook. The MACD and RSI confirm a rise in bearish volume and momentum, especially after price failed once again at the EMA200. We stay bearish but cautious, keeping an eye on how trade developments between the U.S. and its partners evolve.