Customs duties stir fluctuations.. the dollar declines and gold reaches record levels!

Global markets witnessed significant movements during trading today, Thursday, coinciding with the release of several U.S. economic data, primarily the U.S. economic growth data. Below are the key movements observed in the markets:

U.S. Dollar Declines Amid Trade Threats

The U.S. dollar saw a noticeable decline today, despite the release of important economic data that was better than market expectations. However, the dollar index was impacted by renewed concerns regarding tariffs against the U.S.’s trading partners, which could hinder U.S. economic growth, dropping by 0.32% and settling around 104.32 points.

Oil Prices Rise Amid Strong Demand Forecasts

Oil prices showed signs of stability, remaining near their highest levels in nearly a month, with West Texas Intermediate crude contracts settling at $69.90 per barrel. Markets are anticipating the repercussions of new tariffs imposed on U.S. trading partners, which could threaten global economic growth and impact global demand for crude oil in the coming period.

Gold Prices Rise Due to Dollar Weakness

Gold prices increased by 1.18% to reach $3,055 per ounce, influenced by the weakness of the U.S. dollar and concerns about rising trade tensions following the enactment of new U.S. tariffs. This boosted demand for gold as a safe haven amid these economic challenges.

Bitcoin Rises Amid Trade Concerns and Dollar Weakness

The Bitcoin rose by 1.08%, reaching a level of $87,000, amid ongoing optimism regarding digital assets, along with the weakness of the U.S. dollar, which enhanced demand for cryptocurrencies.

U.S. Stock Indices Slightly Decline

U.S. markets faced noticeable selling pressure, with the Dow Jones Industrial Average decreasing by 0.29% to reach 42,331.61 points, while the S&P 500 lost about 0.21%, falling to 5,700.34 points. The Nasdaq also incurred larger losses of 0.25%, reaching 17,853.85 points, affected by investor concerns over new tariff policies, which could impact central bank monetary policies and limit economic growth.

Related News:

European markets close lower... German DAX leads the losses!

Breaking: U.S. natural gas inventories align with market expectations!

Breaking: U.S. jobless claims fall short of expectations... How will markets be affected?