Many are wondering where the Australian housing market currently stands.

In the wake of rising interest rates and the lasting effects of the global pandemic, Australia's property landscape has undergone a significant transformation.

What was once a red-hot housing boom has evolved into a more nuanced market—where some regions have cooled, while others continue to show remarkable resilience.

Capital cities like Brisbane and Perth remain standout performers, buoyed by interstate migration and relative affordability, while Sydney and Melbourne have seen more measured corrections.

Investor sentiment is cautiously optimistic, with many eyeing opportunities in regional markets and emerging suburbs as the next phase of growth unfolds.

As the Reserve Bank of Australia holds steady on its current rate path, eyes will be on inflation data and wage growth as key indicators for future movement.

In this evolving landscape, adaptability, due diligence, and long-term thinking will be crucial for those seeking to enter or expand within the Australian property market.

At the same time, rental markets are under increasing pressure. Vacancy rates have dropped sharply across numerous regions, driving rents higher and drawing renewed interest from investors.

The resurgence of international students and skilled migrants has added to the demand, especially in inner-city locations.

Meanwhile, ongoing construction delays, persistent supply bottlenecks, and soaring material costs continue to hinder new housing completions—further sustaining upward pressure on prices despite signs of broader market moderation.

On a different note, turning to international markets, US stocks surged, with the Dow and Nasdaq rising following a strong jobs report indicating a healthy labour market.

The S&P 500 marked its longest winning streak in over two decades, highlighting investor optimism despite ongoing economic challenges.

The gains on Wall Street came after the Bureau of Labour Statistics reported 177,000 new jobs in April and an unchanged 4.2% unemployment rate, easing recession worries despite a GDP decline driven by surging imports.

At the close in New York, the Dow Jones Industrial Average rose 564.47 points, or 1.39%, to 41,317.43.

The S&P 500, a key global benchmark, gained 82.54 points, or 1.47%, to 5,686.68, while the tech-rich Nasdaq Composite gained 266.99 points, or 1.51%, to 17,977.73.

Friday’s rally wiped out the S&P 500’s post-“Liberation Day” losses, cutting its year-to-date decline to under 4%.

Solid earnings and hopes for tariff relief have driven an 8.7% gain over eight sessions—the strongest run since November 2020.

Among the "Magnificent Seven," Apple slid 4% on a $10B buyback cut and tariff cost warning, while Amazon dipped 0.12% despite strong earnings due to a cautious outlook tied to tariff uncertainty.

Other mega-cap tech stocks were higher across the board.

Microsoft rose 2% and Meta jumped 4%, while chipmakers Nvidia advanced 2%, adding to yesterday's big gains. Alphabet and Tesla both added 2%.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.31%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.83%.

Bitcoin, the flagship cryptocurrency, climbed higher on Friday, briefly touching US$97,800 after recovering from an overnight low of US$96,360.

Despite some intraday volatility, the digital asset eventually settled around US$96,050.

As volatility persists, key support between US$72,000–76,000 remains in focus.

A close below US$72,000 could signal deeper weakness and prompt a market reassessment.

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between a daily range of US$1,814 and US$1,870 before settling at US$1,842.

Spot gold holds steady at $3,240, while silver closed at $32.00.

In the energy sector, Brent crude settled higher at $61.20 a barrel, while US West Texas Intermediate crude (WTI) closed at $58.00.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, was lower at 99.80.

The Eurodollar was 1.1290, and the British pound finished at 1.3265. The Japanese yen ended at 144.96, and the Australian dollar was at 0.6440.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

The previous yellow metal dropped sharply on Wednesday, retreating from record highs as US President Donald Trump’s remarks lifted market sentiment.

Trump suggested that tariffs on Chinese imports would be “substantially” reduced, fuelling optimism in risk assets.

At the same time, he backtracked on his criticism of the Federal Reserve, clarifying he had “no intention” of firing Fed Chair Powell while maintaining his calls for immediate rate cuts.

This sentiment shift contributed to a sell-off in havens like gold, while a modest rebound in the US Dollar added further pressure.

The US Dollar Index (DXY), recovering from a three-year low of 97.70, was trading around 99.40, dampening gold’s appeal.

With the markets focused on trade developments and monetary policy, the path forward for spot gold remains uncertain, hinging on the evolving geopolitical landscape and investor risk appetite.

Spot gold’s RSI is technically mixed, while the MACD continues to support the upward trend.

After hitting the $3,500 target, pullbacks could offer entry points for traders if safe-haven demand persists.

Demand is expected to return from $3,331-33 – reassess from this region is contested.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot Gold reversed its bullish trajectory after reaching the $3,500 target (all-time high), as the US Dollar (DXY) bounced back from a three-year low of 97.70, trading near 99.00.

This rebound followed weeks of downward pressure and came after President Trump’s comments that tariffs on Chinese imports would “come down substantially, but not to zero,” mirroring Treasury Secretary Scott Bessent’s call for easing tensions.

The volatility continued with China’s 125% retaliatory tariffs against the US’s 145% rate, raising concerns over debt yields, slower growth, and inflation risks.

With a lighter economic calendar ahead, markets are set for choppy trading.

Technically, gold’s RSI remains bullish but shows signs of weakening, while the MACD continues to support the upward trend.

After hitting the $3,500 target, pullbacks could offer entry points for traders if safe-haven demand persists.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot Gold surged over 3% on Tuesday, hitting a record high of $3,477 per ounce, driven by rising U.S.-China trade tensions and concerns over President Trump's plans to overhaul the Federal Reserve.

The rally, fuelled by escalating geopolitical risks, strong central bank demand, and inflation fears, marks consecutive record highs in the past three sessions.

Trump's criticism of Fed Chair Jerome Powell and his call for immediate rate cuts added to market unease, while Powell’s stance against rate cuts due to inflation risks kept the US dollar weak.

The US Dollar Index fell to a three-year low at 98.20.

Technically, gold’s RSI remains bullish, and the MACD continues to support the upward trend.

The key target for gold is $3,500-20, although potential pullbacks could offer entry opportunities for traders should safe-haven demand persist.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

US stocks declined on Wall Street Monday as investors weighed the economic fallout of President Trump’s unpredictable trade war and rising concerns over the Federal Reserve’s independence.

Worries intensified after Trump labelled Fed Chair Jerome Powell “a major loser” for not cutting rates.

“There can be a slowing of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump posted on social media, deepening market unease.

Last week, Trump said Powell’s “termination cannot come fast enough,” as White House advisor Kevin Hassett confirmed the president is exploring ways to remove him.

Equities gave back a chunk of the prior week’s strong gains, as rising trade tensions with China and Fed Chair Jerome Powell’s remarks about tariffs pushing up inflation and slowing growth reignited uncertainty over the Fed’s next move on interest rates.

At the close in New York, the Dow Jones Industrial Average dropped 971.82 points, or 2.48%, to 38,170.41.

The S&P 500, a key global benchmark, slid 124.50 points, or 2.36%, to 5,158.20, while the tech-rich Nasdaq Composite fell 415.55 points, or 2.55%, to 15,870.90.

All 11 major sectors of the S&P 500 ended in the red, with consumer discretionary and technology stocks posting the steepest losses.

The US dollar index dropped to 98.20, down from 99.40 last week, hitting a three-year low amid ongoing trade uncertainties.

Attention now turns to the first-quarter earnings season, which picks up this week with dozens of key firms reporting.

In other news, China warned on Monday that it would retaliate against nations aligning with US trade deals that would harm its interests.

The Trump administration, which imposed a 145% tariff on Chinese goods, says it's in talks with dozens of countries.

Turning to the "Magnificent Seven," weakness persisted as AI giant Nvidia slid 4.5%, following reports that Huawei Technologies is preparing to start mass shipments of high-end AI chips to Chinese customers as early as next month.

Meanwhile, Tesla tumbled 5.8% after news emerged that the production rollout of its lower-cost Model Y variant had been postponed.

Other 'Mag Seven' Amazon and Meta Platforms both dropped about 3%. Apple, Microsoft, and Alphabet were each down about 2%.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.40%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.77%.

Bitcoin, the flagship cryptocurrency, traded higher, reaching US$88,280, up from a daily low of US$85,150.

As the volatility continues, attention remains focused on key support levels between US$72,000 and US$76,000, with traders on the lookout for signs of a potential breakout or further pullback.

However, a close below US$72,000 would warrant a reassessment of market conditions.

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between a daily range of US$1,566 and US$1,655 before settling at US$1,580.

Although the market has demonstrated weakness since breaking through US$1,600, the US$1,100 area remains exposed. Reassess from there.

Spot gold surged over 3% in late trading, reaching a record high just above $3,444, as investors flocked to the precious metal for safety, while silver closed at $32.70.

In the energy sector, Brent crude settled higher at $67.00 a barrel, while US West Texas Intermediate crude (WTI) closed at $63.00.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, was lower at 98.20.

The Eurodollar was 1.1490, and the British pound finished at 1.3374. The Japanese yen ended at 140.78, and the Australian dollar was at 0.6412.

Interest Rates Hold the Key – Confidence Follows

Turning our interest to the Australian property market, things took an interesting turn last week with the Coalition considering making owner-occupier loans tax-deductible for first-time buyers of new properties.

Labour is proposing a plan allowing first-time buyers to purchase homes with just a 5% deposit on properties worth up to $1.5 million.

These proposals have led to an improvement in buyer sentiment, fuelling fresh momentum in the housing market as Sydney property prices continue to rise.

Amid Trump's tariff proposals, markets are now pricing in the Reserve Bank of Australia (RBA), potentially lowering interest rates to around 2.8% by December 2025, which is about 1.5% lower than the current rate.

However, this data could change as conditions evolve.

Bottom line? The market looks poised for some significant moves ahead.

If you're in a position to act, positioning yourself before these changes unfold could help you navigate the shifts more smoothly.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

After a bumpy ride on Wall Street last week, traders welcomed the Easter break with open arms, taking a pause from market volatility and geopolitical tensions.

However, although the NY stock market was closed, lots of news is still happening, with President Trump signalling openness to trade talks with China this week despite escalating tensions.

On Thursday, he expressed optimism, saying, “We are going to make a very good deal with China,” and hinted at possibly lowering tariffs to protect consumer spending, while on the other hand, Trump goes to war with the US Federal Reserve Chair Jerome Powell.

On Friday, Trump said, "If we had a Fed chairman that understood what he was doing, interest rates would be coming down."

It’s unclear what legal grounds Trump might use, but a Supreme Court case on his authority to fire federal board members is being watched closely.

Powell has said the law doesn’t allow his removal and that he intends to serve out his term as chair through May 2026 and as a board member through January 2028.

He also stated the current case likely doesn’t apply to the Fed.

At a post-meeting press conference last week, Fed Chair Jerome Powell warned that larger-than-expected tariffs could push inflation higher and slow growth, citing weakened consumer and business sentiment.

Last week’s clash isn’t the first time Trump has challenged Powell’s decisions—the two have a history of public clashes dating back to Trump’s first term.

Meanwhile, White House economic adviser Kevin Hassett said Friday that President Trump and his team are still considering whether they can fire Fed Chair Jerome Powell, signalling the option remains under review.

Hassett's comments followed Trump's renewed attacks on Fed Chair Powell, accusing him of "playing politics" and claiming he could remove him "real fast."

Sen. Elizabeth Warren warned Thursday that if President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could spark a crash in the US stock market.

"Affordability may reignite momentum, but demand isn't going anywhere."

Turning to our local market, buyers remain engaged, keeping a close eye on developments as 2025 unfolds.

The outlook for the Sydney property market presents a mixed picture—balancing opportunity and risk—but could boom if the Reserve Bank of Australia (RBA) follows through with a potential rate cut in May after the federal election.

However, the decision hinges on upcoming inflation data and the evolving impact of Trump’s trade war.

Minutes from the RBA’s April 1 board meeting show underlying inflation may dip below 3% in the March quarter, with CPI data due April 30.

The RBA held rates at 4.1% this month, following February’s cut from 4.35%, as markets await further US tariff announcements.

With housing supply remaining tight across sales, rentals, and new builds, demand is set to rise as interest rates are expected to fall.

Investors, seeking stability, will continue to turn to Australian property.

Even if there is a significant increase in housing supply, which is unlikely in the short term, home values and weekly rents are still forecast to rise over the next 12 to 24 months.

The much-talked-about 0.25% rate cut by the RBA in May may already be priced in.

However, if the board takes a bolder stance with a half percent basis points (0.5%) cut, it could set the stage for the cash rate to eventually drop to 2% over the next 18 to 24 months.

Meanwhile, back on Wall Street, a rebound in US stocks fizzled out following Fed Chair Powell's pushback on the idea of the Federal Reserve stepping in to support markets, frustrating President Trump.

With markets closed for Good Friday, major indexes ended the week lower, giving back last week’s gains.

The S&P 500 fell 1.5%, briefly recovering after Trump mentioned a trade deal with the EU, though without details.

He was more specific about a US-Ukraine minerals agreement, announcing a deal next week.

However, gains evaporated, and the Dow falling 2.7% and the rich-tech Nasdaq ended with a 2.3% loss.

Focusing on the Mega-cap tech stocks, the "Magnificent Seven" were mostly lower across the board, with Nvidia dropping heavily after announcing a $5.5 billion charge due to US restrictions on AI chip exports to China.

Tesla closed lower for the week, while Apple, Microsoft, and Meta Platforms each slipped into negative territory. Amazon and Alphabet also recorded weekly losses.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.33%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.80%.

Bitcoin, the flagship cryptocurrency, traded higher, reaching $85,175, up from a weekly low of $74,524.

As the volatility continues, attention remains focused on key support levels between US$72,000 and US$76,000, with traders on the lookout for signs of a potential breakout or further pullback.

However, a close below US$72,000 would warrant a reassessment of market conditions.

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between a weekly range of US$1,388 and US$1,816 before settling at US$1,644.

Although the market has demonstrated weakness since breaking through US$1,600, the US$1,100 area remains exposed. Reassess from there.

Safe-haven demand remained thin heading into Easter, though spot gold held near the $3,500 target, hovering near the weekly highs of $3,358 an ounce. Meanwhile, silver closed at $32.50.

In the energy sector, Brent crude settled higher at $68.00 a barrel, while US West Texas Intermediate crude (WTI) closed at $63.60.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, has been weak throughout the week, trading at 99.02.

The Eurodollar was 1.1390, and the British pound finished at 1.3294. The Japanese yen ended at 142.12, and the Australian dollar was at 0.6376.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot gold prices surged to a record high of $3,357 ahead of the Easter holiday, driven by robust safe-haven demand amid intensifying U.S.-China trade tensions.

The US Dollar Index (DXY) remains weak at 99.02, with technical patterns pointing toward increased uncertainty and a possible retreat to the 88.00–94.00 range.

Gold’s rally is underpinned by market fears over President Trump’s proposed tariffs on electronics and pharmaceuticals, in addition to the sweeping 145% levy on Chinese goods, met with a 125% retaliation from Beijing.

Strong US retail sales, up 4.6% YoY, suggest consumers may be front-loading purchases, anticipating further tariff impacts.

Fed Chair Powell’s hawkish tone has added to the volatility, raising stagflation concerns and underscoring the tension between price stability and employment.

If inflation remains elevated while growth slows, safe-haven demand for gold could intensify.

Technically, gold’s RSI remains bullish, with MACD and the ADX reinforcing the current uptrend.

The next target stands at $3,500, though pullbacks may offer fresh entry points should safe-haven appetite persist.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

All three major US equity indexes skyrocketed Wednesday, posting their biggest one-day gains in years after its largest four-day percentage loss since the pandemic, as bargain hunters returned to Wall Street.

This surge followed President Trump's announcement of a 90-day pause on sweeping tariffs despite a 125% levy on Chinese imports.

However, the White House maintained a 10% blanket duty on almost all US imports.

The increase in China tariffs was in response to China's announcement of an 84% levy on US goods, set to begin on April 10.

Minutes from the Federal Reserve's last meeting revealed near-unanimous concerns about the US economy facing higher inflation and slower growth.

Some policymakers highlighted "difficult trade-offs" ahead.

Investors now focus on Thursday's consumer price inflation report (CPI) and Friday’s Producer Price Index (PPI) for insights on inflation trends.

Heading into Wednesday, the S&P 500 had dropped 12% over four sessions since President Trump announced his plan for sweeping tariffs, particularly targeting China, Japan, and the EU.

However, at the New York close, preliminary data showed that the Dow Jones Industrial Average rose 2,962.86 points, or 7.87% 40,608.45.

The S&P 500, a key global benchmark, rose 474.13 points, or 9.52%, to 5,456.90, marking its best day since October 2008.

Meanwhile, the tech-heavy Nasdaq Composite surged 1,857.06 points, or 12.16%, to 17,124.97, its largest one-day gain since January 2001, during the height of the Internet Bubble.

The Internet bubble, fueled by the rise of the World Wide Web in 1991, led to over-investment in tech, causing rapid growth followed by a collapse in the Nasdaq.

Focusing on the Mega-cap tech stocks, the "Magnificent Seven" gave a stellar performance, led by a 23% gain for EV maker Tesla.

Chipmakers Nvidia surged 18%, Apple and Meta Platforms added about 15%, Amazon gained 12%, and Microsoft and Alphabet rose 10%.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.28%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.93%.

Bitcoin, the flagship cryptocurrency, held above key support levels between US$72,000 and US$76,000 after trading at US$81,632, up from around US$74,657 just before Trump's announcement, providing a boost to crypto-related stocks.

As the roller coaster continues, the key support levels between US$72,000 and US$76,000 should be closely monitored for signs of a potential demand/rebounds or further pullback if breached.

A close beneath or around US$72,000 would warrant a reassessment!

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between US$1,388 and US$1,685 before settling at US$1,670.

Although we have witnessed a positive sentiment, it's important to continue monitoring, as losses could still reach the US$1,100 – US$1,300 region.

Reassessment will be necessary from there.

Safe-haven demand increased as spot gold surged to $3,121 an ounce, back on track to target $3,200, while silver closed at $31.12.

In the energy sector, oil prices also jumped on the tariff news, with Brent crude settling lower at $64.80 a barrel, while US West Texas Intermediate (WTI) crude, the US crude oil benchmark, closed at $61.28.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, was higher at 102.40.

The Eurodollar was 1.0984, and the British pound finished at 1.22848. The Japanese yen ended at 146.66, and the Australian dollar was at 0.6166.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

US stocks closed sharply lower Tuesday after a late-session slide erased huge earlier gains, with the S&P 500 falling below 5,000 points for the first time in almost a year.

News sources report the S&P 500 has lost nearly US$6 trillion in over four days—its steepest drop since the 1950s—after President Trump announced sweeping global tariffs.

Last week, all three major U.S. stock indexes had their worst week in five years as investors reacted to Trump’s sweeping tariffs on nearly all countries, including steep levies on China, Japan, and the EU.

Set to take effect at midnight, the tariffs aim to boost US manufacturing but risk driving inflation and slowing growth.

At the New York close, preliminary data showed the Dow Jones Industrial Average fell 320.01 points, or 0.84%, to close at 37,645.59.

The S&P 500, a key global benchmark, lost 79.48 points, or 1.57%, to close at 4,982.77,

The last time it closed below 5,000 was on April 19 last year, and it now edges closer to confirming a bear market, finishing nearly 19% below its record close on February 19. A bear market is defined as a 20% drop.

Meanwhile, the rich-tech Nasdaq Composite lost 335.35 points, or 2.15%, to end at 15,267.91.

Wall Street’s “fear gauge,” the Cboe Volatility Index (VIX), surged to an eight-month high of 60.13 on Monday as US stocks extended losses amid growing concerns over Trump’s tariff policy.

However, after dipping to 36.48, the VIX rebounded to close at 52.33—its highest since March 2020—marking a fourth straight daily gain.

Focusing on the Mega-cap tech stocks, the "Magnificent Seven" mostly declined on Tuesday, with Apple hit hardest amid concerns over the trade war with China, as the iPhone maker anticipates higher costs from incoming China tariffs.

Shares have dropped nearly 23% in the past four days, marking Apple’s worst stretch since October 2000, and fell 5% in overnight trade.

EV maker Tesla. Microsoft, Nvidia, Amazon, Alphabet, and Meta Platforms also tumbled.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.42%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.78%.

Bitcoin, the flagship cryptocurrency, was recently trading at $77,150, down from an earlier high of $80,839. The digital currency dropped to as low as $74,500 on Monday.

As the roller coaster emerges, attention remains on key support levels between US$72,000 and US$76,000, with traders closely monitoring for signs of a potential breakout or further pullback.

Beneath or close of US$72,000 would call for a reassessment!

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between US$1,450 and US$1,618 before settling at US$1,473.

Further losses could now be seen since the push through US$1,600 and expose US$1,100 —reassess from there.

Safe-haven demand remained thin as gold hovered around $3,022 an ounce, while silver closed at $30.06.

In the energy sector, Brent crude settled lower at $61.20 a barrel, while US West Texas Intermediate crude (WTI) closed at $57.50.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, was lower at 101.96.

The Eurodollar was 1.1050, and the British pound finished at 1.2834. The Japanese yen ended at 145.30, and the Australian dollar was at 0.5982.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

West Texas Intermediate (WTI) oil prices rose about 1% on Tuesday, recovering from a near five-year low, as concerns over US tariffs depressing demand and triggering a global recession linger.

On Monday, oil prices dropped 2% amid fears that Trump's trade tariffs could stunt worldwide growth and reduce energy demand.

However, markets expect a potential limit to the downward trend in oil prices.

Technically, the 3-day Relative Strength Index (RSI) is negative and extremely oversold.

The Moving Average Convergence Divergence (MACD) is weak, while the Average Directional Index (ADX) points to a ranging market.

A neutral outlook remains.

Daily Chart West Texas Intermediate (WTI)

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot gold prices rebounded Tuesday from a three-week low, rising as investors sought safety amid escalating U.S.-China trade tensions.

Gold had dropped below $3,000 an ounce the previous day.

US President Trump's threat of a 50% tariff on Chinese goods if Beijing doesn't roll back its recent tariffs triggered a risk-off mood.

China's vow to “fight to the end” added to concerns over economic disruption.

Weakness in the US dollar and expectations of Fed rate cuts also supported gold.

However, weakness could return, pushing spot gold toward a broader target of $2,760, with key US inflation data and the Fed Minutes in focus this week.

Technically, the Relative Strength Index (RSI) is negative, the Moving Average Convergence Divergence (MACD) shows indecision, and the Average Directional Index (ADX) suggests a range-bound market.

Traders should stay flexible as weak momentum may persist.

Still, tariff concerns and a return of safe-haven demand could offer buying opportunities during any pullback.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

After a roller-coaster session, all three major U.S. equity indexes closed lower on Monday, capping off their worst week since the early days of the COVID-19 pandemic in March 2020, with trading volume breaking US records for the second straight session.

After President Trump announced sweeping tariffs on key US trading partners, markets remained under pressure, sparking renewed fears of a deepening global trade war.

With no signs of easing from the administration, investor sentiment soured further as concerns about inflation, slower economic growth, and geopolitical instability grew.

The heightened uncertainty led to a broad-based selloff, dragging stocks down and extending last week’s steep losses.

Furthermore, as global markets slide, President Trump has threatened China with an additional 50% tariff if it doesn’t drop its 34% counter-tariff.

Beijing retaliated Sunday after Trump’s “Liberation Day” imposed a 34% tax on Chinese goods and a 10% levy on most trading partners.

In a social media post on Monday, Trump gave China until Tuesday to back down or face the new tariff.

The Chinese embassy accused the US of “economic bullying” and vowed to protect its interests.

During the session, the CBOE Volatility Index, Wall Street's fear gauge, surged past 60 points, reaching its highest level since August 2024.

After trimming gains, it closed at 46.98, marking its highest close in five years.

At the New York close, preliminary data showed the Dow Jones Industrial Average fell 349.26 points, or 0.91%, to 37,965.60.

The S&P 500, a key global benchmark, lost 11.83 points, or 0.23%, to 5,062.25, while the rich-tech Nasdaq Composite gained 15.48 points, or 0.10%, to 15,603.26.

On Friday, the Dow entered correction territory, down over 10% from its December peak, while the Nasdaq confirmed a bear market, dropping 20% below its record high.

By Monday, the S&P 500 had also fallen 20% from its peak.

Turning our attention to the "Magnificent Seven," Apple led the mega-cap decliners with a 3.7% drop on Monday amid concerns about how the iPhone manufacturer will adapt to the trade war with China.

EV maker Tesla fell by 2.6%, while Microsoft slightly declined.

On the flip side, chipmaker Nvidia rose 3.5%, Amazon and Meta Platforms gained more than 2%, and Alphabet added 1%.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.16%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.74%.

Bitcoin, the flagship cryptocurrency, traded around US$78,000 at the close, down from US$84,000 on Friday.

It fell to US$74,524 overnight, its lowest since early November, as investors trimmed exposure to risky assets.

As the roller coaster emerges, attention remains on key support levels between US$72,000 and US$76,000, with traders closely monitoring for signs of a potential breakout or further pullback.

Beneath or New York close under US$72,000 would call for a reassessment!

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between US$1,422 and US$1,633 before settling at US$1,578

Further losses could now be seen since the push through US$1,600 and expose US$1,100 —reassess from there.

Safe-haven demand remained thin as gold hovered around $3,000 an ounce, its lowest level in three weeks, while silver closed at $30.12.

In the energy sector, Brent crude settled lower at $64.95 a barrel, while US West Texas Intermediate crude (WTI) closed at $61.20.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, rebounded to 102.56

The Eurodollar was 1.0982, and the British pound finished at 1.2784. The Japanese yen ended at 147.30, and the Australian dollar was at 0.6054.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

West Texas Intermediate (WTI) oil prices extended last week’s losses on Monday, dropping to their lowest since April 2021, with WTI falling more than 4%.

Escalating trade tensions between the United States and China stoked fears of a recession that could reduce demand for crude.

WTI plunged 7% on Friday as China ramped up tariffs on US goods, escalating the trade war and leading investors to price in a higher probability of recession.

Foreign Ministry spokesperson Guo Jiakun stated, “the market has spoken” against Trump’s tariffs and urged the US to seek “equal-footed consultation.”

Meanwhile, Fed Chair Jerome Powell warned that Trump’s tariffs are “larger than expected,” with economic fallout likely to include higher inflation and slower growth.

Additionally, OPEC+ advanced plans to increase output, aiming to return 411,000 bpd to the market in May.

Technically, the 3-day Relative Strength Index (RSI) is negative and extremely oversold.

The Moving Average Convergence Divergence (MACD) holds a weak signal, while the Average Directional Index (ADX) points to a ranging market.

A neutral outlook remains.

Daily Chart West Texas Intermediate (WTI)

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot gold prices fell to a three-week low on Monday as investors took profits amid intensifying global trade tensions and growing recession fears, marking the lowest level since March 13.

After hitting consecutive record highs last week, gold retreated following US President Trump’s tariff announcement.

On April 2, Trump imposed a 10% tariff on all imports and up to 49% on goods from China and the EU.

This triggered global market reactions, with China retaliating with a 34% tariff on US imports and the EU signalling a coordinated response, raising concerns about a global growth slowdown.

Despite these challenges, the US dollar’s continued weakness and expectations of Fed rate cuts provided some support to gold, limiting its decline.

Weakness could push spot gold toward the $2,750-60 region, with key inflation data in focus this week.

Technically, the Relative Strength Index (RSI) is negative, and the Moving Average Convergence Divergence (MACD) shows indecision. The Average Directional Index (ADX) suggests a range-bound market.

Traders should stay flexible, as weak momentum may continue.

However, with tariff concerns and rising safe-haven demand, this pullback could offer buying opportunities.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Wall Street nosedived for the second straight day on Friday, with fears of a looming stock market crash mounting as the S&P 500 and Nasdaq slipped into correction territory (bearish).

US stocks briefly surged after a stronger-than-expected jobs report (Non-Farm Payrolls) revealed that US employers added 228,000 jobs in March, far exceeding the 140,000 forecast.

However, the gains were reversed by Friday.

Traders also focused on Fed Chair Jerome Powell’s remarks on Friday, where he acknowledged solid economic growth but noted increased uncertainty due to the Trump administration’s policies.

Powell highlighted the rising risks of slower growth and higher inflation but stated the Fed is "well positioned to wait for greater clarity" before adjusting interest rates.

Meanwhile, April's key economic data could prove decisive—either sparking renewed selloffs if it confirms growth concerns or calming nerves if the impact of US tariffs appears more muted than feared.

While tariffs aren’t new, April may reveal the extent of their short-term toll on the economy.

China responded Saturday to Trump’s 34% tariff with a similar 34% levy on US imports.

Foreign Ministry spokesperson Guo Jiakun stated, “the market has spoken” against Trump’s tariffs and urged the US to seek “equal-footed consultation” as global markets tumbled and China retaliated.

Meanwhile, Britain, Australia, and Italy's prime ministers discussed how to respond to Trump’s tariff measures.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite posted their largest two-day declines since the emergence of the coronavirus.

At the New York close, preliminary data showed the Dow Jones Industrial Average plummeted 2,231.07 points, or 5.50%, to 38,314.86 points, confirming a correction from its record closing high of 45,014.04 on December 4, bringing its two-day decline to nearly 4,000 points.

The S&P 500, a key global benchmark, lost 322.44 points, or 5.97%, to close at 5,074.08 points, its lowest finish in 11 months.

Meanwhile, the Nasdaq Composite dropped 962.82 points, or 5.82%, to 15,587.79, officially entering a bear market from its record closing high of 20,173.89 on December 16.

Focusing on the "Magnificent Seven," mega-cap technology stocks dropped sharply across the board again on Friday.

AI chipmaker Nvidia fell more than 7%, while EV maker Tesla plunged 10%.

Apple, a major manufacturing presence in China, declined 7% after a 9% drop yesterday.

Facebook parent Meta Platforms was off 5%, Amazon fell 4%, and Microsoft and Alphabet slipped more than 3%.

In other sectors, Boeing, which lost 10% yesterday, dropped another 9.5% today, while GE Healthcare and GE Aerospace declined 16% and 11%, respectively.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.00%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.66%.

In other markets, Bitcoin was trading at US$83,518 late Friday, up from an earlier low of US$81,691.

The digital currency was around US$88,000 late Wednesday before President Trump unveiled the reciprocal tariffs.

As the market remains confined, attention remains on key support levels between US$72,000 and US$76,000, with traders closely monitoring for signs of a potential breakout or further pullback.

Ethereum mirrored Bitcoin's volatile price movement, fluctuating between US$1,760 and US$1,835 before settling at US$1,818.

With limited demand and the US$1,800 downside target met traders should stay cautious of breakout signals.

Further losses could push prices toward US$1,600—reassess from there.

Effective risk management and strategy adjustments will be key to navigating any potential deeper correction.

Safe-haven demand reversed toward the end of the week as spot gold dropped 2.5%, settling at US$3,038 an ounce. Meanwhile, silver gained, closing at US$29.54.

In the energy sector, Brent crude settled lower at $65.60 a barrel, while US West Texas Intermediate crude (WTI) closed at $62.00.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, rebounded to 102.78.

The Eurodollar was 1.0952, and the British pound finished at 1.2890. The Japanese yen ended at 146.92, and the Australian dollar was at 0.6035.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

The Trump administration’s aggressive tariff regime against key trading partners triggered a market rout on Thursday, with all three major US indexes plunging.

Investors feared the steep tariffs could fuel inflation and push the economy into a downturn, marking the worst stock market sell-off since the COVID-19 pandemic.

In addition to the highly anticipated US jobs report, the March Non-Farm Payrolls, Fed Chair Jerome Powell is scheduled to speak on Friday.

Investors will closely monitor his remarks for insights into the state of the US economy and potential policy shifts, particularly in light of heightened inflation concerns following President Trump’s latest tariff escalation.

Powell’s speech could provide key signals on the Federal Reserve’s rate outlook and response to evolving economic conditions.

At the New York close, preliminary data showed the Dow Jones Industrial Average fell 1,679.39 points 3.98% to 40,545.93.

The S&P 500, a key global benchmark, lost $2.4 trillion in market value—its biggest one-day drop since March 16, 2020—falling 274.45 points 4.84% to 5,396.52.

Meanwhile, the Nasdaq Composite plummeted 1,050.44 points, 5.97% to 16,550.61.

Markets fell the day President Trump announced a sweeping “reciprocal tariff” policy, imposing a 10% baseline tariff on most countries.

The plan includes significantly higher tariffs on key trading partners, with 34% on China, 20% on the EU, 46% on Vietnam, and 32% on Taiwan.

Shifting to the "Magnificent Seven," mega-cap technology stocks were weak.

Apple, a major manufacturing presence in China, Vietnam, and India, was the biggest decliner among mega-cap tech stocks, falling more than 9%.

Chipmakers Nvidia dropped 11%, respectively, while Amazon and Meta each slid 9%.

Tesla fell more than 5%, and Microsoft and Alphabet also stumbled.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.00%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.66%.

In other markets, Bitcoin was trading at around US$82,850 in late-afternoon trading Thursday, down from about US$88,000 just before Trump spoke late yesterday afternoon, as investors fled risky assets.

As the market remains confined, attention is on key support levels between US$72,000 and US$76,000, with traders closely monitoring for signs of a potential breakout or further pullback.

Ethereum mirrored Bitcoin's mixed price action, trading between US$1,752 and US$1,843 before settling at US$1,794.

With limited demand and the US$1,800 downside target reached, traders should remain cautious about breakout signals.

Additional losses could drive prices toward US$1,600—reassess from there.

Effective risk management and reassessing strategies will be crucial to navigating any potential deeper correction.

Safe-haven demand eased as spot gold retreated from its record high, falling over 2% to settle at US$3,103 an ounce. Silver, however, gained, closing at US$31.58.

In the energy sector, Brent crude settled at $69.78 a barrel, while US West Texas Intermediate crude (WTI) closed at $66.18.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, plunged more than 2% to 101.50, marking its sharpest single-day decline in over two years.

The Eurodollar was 1.1060, and the British pound finished at 1.390. The Japanese yen ended at 146.10, and the Australian dollar was at 0.6286.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

After hitting the $71.50 target, West Texas Intermediate (WTI) oil prices reversed, falling $2 on Thursday following President Trump's announcement of reciprocal tariffs, raising concerns about a global trade war impacting crude demand.

Trump introduced a 10% minimum tariff on most countries, with higher rates on the EU, Japan, and China, escalating trade tensions.

"It's our declaration of independence," Trump said.

Focus now shifts to the March Non-Farm Payrolls report and Fed Chair Jerome Powell's Friday speech.

Bearish sentiment grew as EIA data showed US crude inventories rose by 6.2 million barrels, contrary to expectations of a 2.1-million-barrel decline.

Based on the technical outlook, the 3-day Relative Strength Index (RSI) is currently negative, indicating potential downside momentum, while the Moving Average Convergence Divergence (MACD) remains positive, suggesting underlying bullish strength.

The Average Directional Index (ADX) supports a ranging market.

However, with supply making a return, the initial target of $73.55–70 is now on hold.

As a result, the focus has shifted to the $67.60 level, where price action will need to be reassessed.

Daily Chart West Texas Intermediate (WTI)

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot gold surged to a new record high Thursday, driven by safe-haven demand following US President Trump's sweeping trade tariffs.

The US Dollar Index (DXY) dropped to 102.90, its lowest since October 2024, as inflation concerns linked to higher import costs weighed on sentiment.

Earlier today, Trump announced a 10% minimum tariff on most countries, with higher rates for the EU, Japan, and China, escalating trade tensions.

The focus now shifts to the March Non-Farm Payrolls report and Fed Chair Jerome Powell's speech for insights into the US economy and interest rates.

With spot gold hitting $3,167 an ounce, the target is now set at $3,200, with speculation of a move toward $3,500.

From a technical perspective, the Relative Strength Index (RSI) is positive but overbought, while the Moving Average Convergence Divergence (MACD) remains positive.

The Average Directional Index (ADX) indicates a strong bull trend.

Traders should stay flexible, as momentum still favours the upside.

With tariff concerns and rising safe-haven demand, pullbacks may present buying opportunities.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Wall Street reacted negatively as inflation concerns intensified following President Trump's highly anticipated announcement of new tariffs.

Investors grew increasingly wary of the potential economic impact, fearing that higher import costs could further fuel inflation and delay anticipated Federal Reserve rate cuts, while the US Dollar plunged to levels last seen in October 2024.

After Wall Street closed, President Trump announced a minimum 10% tariff on most countries, with country-specific rates on 60 nations.

The measures include a 20% tariff on EU imports, 26% on Japan, and 34% on China, escalating trade tensions and adding to market uncertainty.

"It's our declaration of independence," Trump said at a White House Rose Garden event. "We will establish a minimum baseline tariff of 10%."

At the New York close, preliminary data showed the Dow Jones Industrial Average rose 235.36 points, or 0.56%, to close at 42,225.32.

The S&P 500, a key global benchmark, gained 37.90 points, or 0.67%, to 5,670.97, while the Nasdaq Composite climbed 151.16 points, or 0.87%, to 17,601.05.

Shifting to the "Magnificent Seven," mega-cap technology stocks were mixed.

Tesla rose 5.3% after Politico reported that Trump said Elon Musk would soon step back from his government role. However, in after-hours trade, Tesla plummeted 6.20%.

Other "Mag Seven" stocks were mixed in regular trading.

Amazon rose 2% amid reports that the company had bid for social media giant TikTok.

Apple and Nvidia also gained ground, while Microsoft, Alphabet, and Meta Platforms saw slight declines.

On the data front, US private payrolls grew faster in March, and new orders for manufactured goods rose in February, likely due to front-loaded orders ahead of tariffs.

Focus now shifts to the March Non-Farm Payrolls report and Fed Chair Jerome Powell's Friday speech for insights into the US economy and interest rates.

Traders had anticipated two or three rate cuts for 2025, but tariff-induced inflationary pressures have now complicated the outlook.

In bonds, crypto and commodities

The 10-year Treasury yield, which influences mortgage rates and other key loans in the US government bond market, settled at 4.19%.

The policy-sensitive two-year yield, which closely tracks Federal Reserve interest rate adjustment expectations, closed at 3.91%.

In other markets, Bitcoin was whipsawed, rejecting an intraday high of US$88,377 before plunging to a low of US$82,358 and settling at US$83,358.

As the market remains in a confined range, attention is on key support levels between US$72,000 and US$76,000, with traders closely monitoring for signs of a potential breakout or further pullback.

Ethereum mirrored Bitcoin's mixed price action, trading between US$1,783 and US$1,953 before settling at US$1,821.

With limited demand and the US$1,800 downside target reached, traders should remain cautious about breakout signals.

Additional losses could drive prices toward US$1,600—reassess from there.

Effective risk management and reassessing strategies will be crucial to navigating any potential deeper correction.

Safe-haven demand drove spot gold to another fresh record high, reaching US$3,167 and settling at US$3,150 an ounce. Silver also gained, closing at US$33.66.

In the energy sector, Brent crude settled at $73.06 a barrel, while US West Texas Intermediate crude (WTI) closed at $69.40.

Meanwhile, the US Dollar Index (DXY), which tracks the greenback against a basket of currencies, plummeted to levels last seen in October 2024 at 102.90.

The Eurodollar was 1.0898, and the British pound finished at 1.3050. The Japanese yen ended at 147.88, and the Australian dollar was at 0.6274.

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

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Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.

Spot gold reached a fresh record high of $3,149, driven by safe-haven demand, while the US Dollar Index (DXY) rose marginally to 103.90 at the New York close.

The surge in investment demand followed statements from US President Trump, while weaker-than-expected US manufacturing and job openings data added to concerns ahead of the April 2 tariff announcements. February job openings fell to 7.57 million.

The focus now shifts to Friday’s March Non-Farm Payrolls report.

From a technical perspective, the Relative Strength Index (RSI) is positive but overbought, while the Moving Average Convergence Divergence (MACD) remains positive.

The Average Directional Index (ADX) indicates a strong bull trend.

Traders should stay flexible, as momentum still favours the upside.

With tariff concerns and rising safe-haven demand, pullbacks may present buying opportunities.

If spot gold holds above $3,000, the next target could be $3,200, with talk of extending the target to $3,500.

Daily Chart Spot Gold

This content is provided by Australian Financial Services Corporation (AFSC) Pty Ltd (AFSC), trading as Crystal Ball Finance. AFSC is a corporate authorised representative (CAR No. 001275455) of ShareX Pty Ltd (AFSL No. 519872).

For information relating to our financial services, you should refer to our Financial Services Guide.

Crystal Ball Finance content is designed as the opinion only and is general in nature. It does not take account of your objectives, financial situation or needs. Nothing in this content shall be construed as a solicitation to buy or sell any security or product or to engage in or refrain from engaging in any transaction. There are risks involved in any financial investment and trading strategy, and the value of any investment can and does fluctuate and may even become valueless. You should consider the appropriateness of any investment or trading strategy having regard to your circumstances. We recommend that you obtain financial, legal and taxation advice before making any financial investment decision or applying any trading strategy. This content is based on information obtained from sources believed to be reliable, but we do not make any representation or warranty that it is accurate, complete or up to date. We accept no obligation to correct or update the information or opinions in it. Opinions expressed are subject to change without notice. Crystal Ball Finance does not accept any liability whatsoever for any direct, indirect, consequential or other loss arising from any use or application of its content.