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Dollar Declines Amid Tariff Uncertainty

Technical Analysis
By Ahmed Ashraf
Dollar Declines Amid Tariff Uncertainty
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DOLLAR INDEX

مؤشر الدولار 5-2-2025

The U.S. Dollar Index is trading around the 108 support zone, and this area is likely to limit the pace of decline in today’s trading.

Support

 108 105.60 104.25
Resistance 109.25 110.25

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The U.S. Dollar Index (DXY) witnessed a significant decline today, falling below the 108-point level and extending its losses from the previous session. This drop is attributed to trade tensions between the United States and China, as the U.S. imposed a 10% tariff on Chinese goods, prompting a moderate retaliatory response from Beijing. Additionally, U.S. labor market data revealed a decline in job opportunities, negatively impacting investor sentiment. This depreciation in the dollar’s value led to a rise in gold prices, which increased by more than $11 per ounce, as investors continued to seek safe-haven assets amid economic uncertainties.

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Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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