Due to market concerns over the uncertain implementation effect of Trump’s subsequent tariff policies, while the US dollar has been rising, gold has also continued to set new historical highs. On Tuesday (February 11th), in the Asian market, the US dollar remained around 108.40, while the gold price refreshed a new historical high above 2940.
These measures are the latest sign that investors are struggling to distinguish between the threats and actions in Trump’s tariff measures, while also gauging the potential ripple effects on global trade, corporate earnings and inflation. Although tariffs on China have taken effect, the uncertainty over more taxes has raised new concerns that retaliatory measures will intensify the global trade war.
Hartmut Issel, head of equities and credit for UBS Wealth Management Asia Pacific, said on Bloomberg Television: “Tariffs are not an issue that we completely ignore or overlook.” He said a mix of U.S. stocks, high-grade bonds and gold “should allow us to avoid all these tariff risks.”
Trump imposed tariffs on steel and aluminum from all countries, including major suppliers Mexico and Canada, starting from March 4th, but said he would consider granting an exemption to Australia. The president earlier said he would announce reciprocal tariffs on countries that impose taxes on US imports this week.
Chris Larkin of Morgan Stanley E*Trade said, “Inflation data, Powell’s congressional testimony and tariffs will drive market movements. If the S&P 500 is to break out of its two-month consolidation, it may need to temporarily shake off the negative surprises that have plagued it in recent weeks, such as DeepSeek, tariffs and consumer confidence.”
Deutsche Bank strategists Binky Chadha and others said that the resilience of the stock market in the face of tariffs could trigger further escalation of trade, which might lead to a stock market correction.
They pointed out that these pullbacks require the same strategy as geopolitical shocks, which historically have all seen sharp but short-lived sell-offs. Even if the events persist, the stock market usually bottoms out and recovers its losses before the situation eases.
Under such circumstances, the stock market usually drops by 6% to 8%, falling for three consecutive weeks and then strengthening for another three consecutive weeks.
Technical analysis:
Gold: Yesterday, the blue momentum break-through buy operation we reminded on our plugin at 2884 could have gained a space of 60 dollars, which is about a profit-to-loss ratio of over 7 times. Today, we saw the price quickly retrace to the 2900 integer level and has temporarily stabilized. We recommend attempting to buy again in the demand zone of 2910/15 today, with a target of 2940. Then, advance the stop-loss to continue holding. For detailed positions, please consult the plugin.
(15-minute Gold Chart)
If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg.
Nasdaq: Yesterday, our plugin recommended a buy stop operation after the blue momentum area was broken through. Currently, it seems that a gain of over 200 basis points can be achieved, approximately a profit-to-loss ratio of 5 times. The intraday price continues to retrace to the support at 21,730/50, and there might be a second wave of rebound. You can consider taking another long position to try. For detailed positions, please consult the plugin.
(15-minute Nasdaq Index chart)
If you want to experience the same plugin as shown in the chart, please contact V: Hana-fgfg.
GBP/USD: Yesterday, we indicated on the plugin that the GBP/USD pair would need to break below the 1.2350 yellow zone before there was a chance for a rebound. Currently, the price has broken below the yellow zone. Today, we can continue to monitor for the appearance of bullish signals and then attempt to catch a rebound. For detailed positions, please consult the plugin.
(GBP/USD 15-minute chart)
If you want to experience the same plug-in as shown in the picture, please contact V: Hana-fgfg.
Today’s key financial data and events to focus on:
19:00 US January NFIB Small Business Confidence Index
At 20:15, the Governor of the Bank of England, Bailey, will deliver a speech.
21:30 Canada December Building Permits (MoM)
21:50 Cleveland Federal Reserve President Loretta Mester will speak on the economic outlook.
21:55 US Redbook Commercial Retail Sales (YoY) Last Week
At 23:00, US Federal Reserve Chair Powell attended a Senate hearing and delivered his semi-annual monetary policy testimony.
