Gold, Oil, and the Dollar: Who’s Dominating the Trading Arena?: From gold hitting record highs to oil under pressure,
the dollar faces challenges.
Explore the top market indicators and trading opportunities this week with Evest insights.

Content
Economic Events
EURUSD
Gold
Oil
USDJPY
Nvidia

Economic Events

Monday, April 7, 2025

19:48 – China:
Foreign Exchange Reserves (USD) (March)

Tuesday, April 8, 2025

Australia:
NAB Business Confidence Index (March)

17:00 – Canada:
Ivey Purchasing Managers Index (PMI) (March)

Wednesday, April 9, 2025

05:00 – New Zealand:
Reserve Bank of New Zealand Interest Rate Decision

Thursday, April 10, 2025

04:30 – China:
Consumer Price Index (MoM) (March)

04:30 – China:
Consumer Price Index (YoY) (March)

04:30 – China:
Producer Price Index (YoY) (March)

15:30 – United States:
Core Consumer Price Index (Excluding Food & Energy) (MoM) (March)

15:30 – United States:
Consumer Price Index (MoM) (March)

15:30 – United States:
Consumer Price Index (YoY) (March)

Friday, April 11, 2025

09:00 – United Kingdom:
Gross Domestic Product (MoM) (February)
09:00 – Germany:
Consumer Price Index (MoM) (March)
10:00 – Eurozone:
Core Consumer Price Index (Excluding Food & Energy) (YoY) (March)
15:30 – United States:
Producer Price Index (MoM) (March)
15:30 – United States:
Producer Price Index (YoY) (March)

EURUSD

The EURUSD pair is trading around 1.0962,
following a strong rally last week due to weakness in the U.S. dollar.
The pair retested the supply zone near 1.1200 before experiencing a slight downward correction.

The weak dollar drives the pair’s movements,
especially following Donald Trump’s recent tariff imposition and China’s retaliatory measures.
Analysts expect the dollar to remain weak in the near term.
If the pair breaks above the 1.1205 level and closes higher, buyers may push it further toward 1.1500.

Gold

Gold continued to post new historical highs last week,
reaching a peak near $3,168 before beginning a bearish correction driven by profit-taking, closing around $3,037.

Despite the correction, the bullish outlook remains dominant,
especially with rising geopolitical tensions during market holidays and anticipated support at the psychological $3,000 level.
These factors may push gold back toward $3,100 and eventually $3,168.

However, the bearish scenario becomes more likely if gold breaks below $3,000 and closes under that level.

Oil

Oil experienced a sharp sell-off last week due to rising market tensions, fears of a U.S. recession,
and slower global economic growth this year, driven by the U.S.-led trade war with its partners.

These pressures drove oil prices down to $62 as traders reacted to concerns about declining near-term demand.
If the current crisis remains unresolved, analysts anticipate that oil will continue falling toward $60 and $57.

USDJPY

Despite the tariffs imposed on Japan, the Japanese yen strengthened last week, reaffirming its status as a safe-haven asset.

The USDJPY pair declined to 146.90. A break below 145.85, followed by a close below that level,
could trigger further downward momentum, potentially pushing the pair toward 142.00.

Nvidia Stock

Nvidia stock is trading around $94.3 after a sharp decline in recent sessions.
This decline was triggered by China’s 34% retaliatory tariffs, which exerted significant pressure on U.S. equities.

The stock currently trades above the $90 support level.
If it breaks below this level, sellers may extend the downward trend, potentially driving the price toward $75.

Gold, Oil, and the Dollar: Who’s Dominating the Trading Arena?:

Gold, Oil, and the Dollar: Who’s Dominating the Trading Arena?

Related Topics