Trump calls for global central banks to cut interest rates, US dollar falls on Thursday Gold price hits bottom and rebounds
On Thursday, due to US President Trump's call for lower interest rates but no clear statement on tariffs, the US dollar index fluctuated within a range in the Asian and European markets. However, it rapidly fell in the US market, briefly falling below the 108 level, and then recovering some lost ground, ultimately closing down 0.1% at 108.14. The yield of US Treasury bonds fluctuated, with the benchmark 10-year bond yield slightly rising to close at 4.646%; The two-year US Treasury yield, which is more sensitive to monetary policy, fell back to 43000%. Spot gold hit a bottom and rebounded on Thursday, falling to $2735.83 per ounce earlier in the session. However, the performance of the US initial jobless claims was worse than market expectations, and after US President Trump called for lower interest rates, the US dollar weakened, and gold prices recovered all their losses, closing at $2754.59 per ounce. Market attention remains focused on the broad impact of Trump's policies. Due to Trump's call for Saudi Arabia and OPEC to lower oil prices, both oil prices fell in response. WTI crude oil plummeted rapidly during the US trading session, with a intraday drop of over 1%, ultimately closing down 1.48% at $74.12 per barrel; Brent crude oil closed down 1.21% at $77.28 per barrel.
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