Yields and USD rose; Trump uncertainty boosted gold.
On Wednesday, as the market was still waiting for details about Trump's tariff policies, the US dollar index hovered around the 108 mark. It briefly missed this mark during trading, but then regained all lost ground before the US market and turned higher, ultimately closing up 0.26% at 108.25. The yield of US Treasury bonds rebounded slightly, with the benchmark 10-year yield closing at 4.616%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.302%. Gold prices surged to a nearly three-month high of $2763.27 per ounce on Wednesday, trading slightly below historical highs, driven by the weakening of the US dollar and unclear policy plans from US President Trump. Investors are concerned that Trump's policies may trigger a trade war and exacerbate market volatility. Affected by the uncertainty of Trump's tariffs, the two oil companies fell to a one week low. WTI crude oil rose to a intraday high of $76.25, but quickly fell back to around $75, ultimately closing down 0.71% at $75.24 per barrel; Brent crude oil closed down 0.52% at $78.23 per barrel.
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Daily Global Market Update – 3rd April, 2025
