In clear movements in the global financial markets during trading on this Tuesday, the markets showed a noticeable impact from the comments of the US Treasury Secretary regarding trade tensions with China. These statements contributed to temporarily easing trade fears, resulting in strong movements in many markets. We review the most significant of these movements in currencies, commodities, US indices, and cryptocurrencies.
US Dollar Rises as Trade Fears Fade The US Dollar Index witnessed a noticeable increase of 0.63%, reaching 98.94 points. This rise came as a result of easing trade concerns, which strengthened expectations for the robustness of the US economy this year and reduced recession prospects, positively impacting the US currency.
Oil Prices Rise Amid Geopolitical Tensions Crude oil contracts saw a significant increase, with Brent crude prices rising to $67.24 per barrel, while US crude contracts climbed by 1.33% to reach $63.46 per barrel. This increase was driven by fears of an oil supply shortage, as well as comments from US President Donald Trump expressing support for Israel's positions towards Iran, which could threaten the stability of global oil markets.
Gold Falls as Risk Appetite Improves Gold prices witnessed a notable decrease of about 1.20%, recording $3,382 per ounce, losing more than $40 during the session. This decline coincided with a reduction in concerns related to escalating trade wars, as statements from the US Treasury Secretary regarding the possibility of reaching a trade agreement with China soon boosted investors' risk appetite.
Bitcoin Records Strong Surge Exceeding $91,000 In the realm of cryptocurrencies, Bitcoin recorded a strong increase of 5.49%, with its price reaching approximately $91,559. This rise is attributed to an improved risk appetite, alongside fears surrounding President Donald Trump's dismissal of the US Federal Reserve Chair, which bolstered demand for digital assets.
Wall Street Sees Strong Gains Thanks to Tech Stock Recovery US stock indices recorded strong gains, with the Dow Jones Industrial Average rising by 2.58% to reach 39,154.73 points. The S&P 500 increased by 2.44%, marking 5,284.18 points, while the Nasdaq surged by 2.63% to close at 16,288.41 points. These gains were primarily supported by a recovery in tech stocks, reflecting an improvement in risk appetite in the US market.
