Dogecoin is experiencing a downturn, trading around $0.24 after falling over 7% in the past week. As the year unfolds, markets are already witnessing significant volatility. This turbulence is partly attributed to Donald Trump's second term, which has introduced fresh tariff threats, stirring fears of a global trade war reminiscent of the political drama "House of Cards." Meanwhile, in the foreign exchange market, GBP/USD is trading near 1.2400 and EUR/USD remains above 1.0300 in the early European session on Monday.
The US Dollar has strengthened, influenced by Trump's tariff announcements, posing challenges for the EUR/USD pair. Market participants are eagerly awaiting the Eurozone Sentix data and ECB President Christine Lagarde's upcoming speech for potential trading directions. These developments have left the EUR/USD pair vulnerable, as traders seek clarity and stability amidst the uncertainty.
Trump's tariff threats have led to increased concerns on a global scale, with policymakers and traders closely monitoring the situation. The fears of a trade war have not only affected currency markets but have also driven investors towards safe-haven assets such as gold. The precious metal has surged to a record high near $2,900, as it continues to attract investments seeking refuge from geopolitical tensions.
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