The ISM Manufacturing PMI has risen, reflecting robust business activity despite ongoing global trade fears. On Monday, gold prices soared to a new all-time high, surpassing $2,820. This rally in gold is fueled by a sharp decline in US Treasury bond yields following US President Trump's recent tariff decisions. As market volatility persists, traders are seeking strategies to navigate this unpredictable landscape.
Market analysts attribute the rise in gold prices to the significant drop in US Treasury bond yields, which have been impacted by President Trump's tariff announcements. The XAU/USD saw an impressive rally at the start of the week as investors flocked to gold as a safe haven. Meanwhile, the USD/JPY currency pair showed volatility, declining from highs of 155.86 to 154.51.
The Trump administration's tariff decisions continue to dominate market discussions. A single tweet from President Trump has the power to send futures, stocks, and currencies spiraling after hours, adding to the market's unpredictability. Despite these challenges, the US Dollar remains resilient, being the only asset that has gained in response to tariffs.
The Bank of Japan has expressed readiness to navigate through Trump's protectionist policies, emphasizing its commitment to maintaining stability. Meanwhile, the Bank of England and the buildup to Non-Farm Payrolls (NFP) will occasionally capture market attention amidst the tariff narrative.
Traders are advised to master essential skills to survive in this tumultuous environment. It takes more than 10,000 hours to become adept at trading, as highlighted in a video that shares five crucial survival tips for traders facing Trump-era market volatility. The video draws from the author's firsthand experience with market fluctuations, offering valuable insights into effective trading strategies.