DXY & Forex

According to a report by The Wall Street Journal, Hong Kong has become a key hub for the movement of Iranian funds, facilitating up to $4.8 billion in financial transactions through shell companies to help Iran evade U.S. sanctions, including oil proceeds and military technology procurement. In addition, Hong Kong’s support has enabled Iran to use the “ghost fleet” to smuggle crude oil and to resist unilateral sanctions, prompting the United States to change its strategy and impose sanctions on the relevant companies.

Gate News: According to the latest Gate TradFi data, USDZAR (USD/ZAR) has surged by 1% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

On April 13, the precious metals market was under pressure, with gold and silver prices falling by 0.86% and 1.70%, respectively. The crypto market volatility index rose, the U.S. dollar against the Chinese yuan and the yen edged up, crude oil prices surged significantly, with WTI up 8.99%. The Gate platform supports trading a variety of traditional financial products.

The U.S. imposes a naval blockade on Iran, causing the U.S.-Iran nuclear talks to fall apart. Market risk sentiment intensifies, and Bitcoin drops to $71,000, with a 24-hour decline of 3.1%. Traditional market capital flows into safe-haven assets, and analysts are divided on Bitcoin’s future trend, with $70,000 support acting as a key level.

Gate News: According to the latest Gate TradFi data, USDKRW (US Dollar vs South Korean won) has surged by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News: According to the latest Gate TradFi data, USDKRW (US Dollar vs South Korean won) has surged by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

The U.S. vice president, Vance, did not reach an agreement in the US-Iran negotiations held in Islamabad. The core dispute is that Iran refused the U.S. demand for a nuclear weapons commitment. The breakdown of the talks has increased geopolitical risk, affecting financial markets—especially crude oil and Bitcoin prices. Even though the negotiations were unsuccessful, both sides may still continue discussions, and the market will watch for further developments.

President Javier Milei reveals that Argentina's dollarization efforts face resistance from citizens who prefer using the peso. Despite allowing currency competition, adoption remains low, complicating Milei's economic reforms.

Central banks are now holding more gold reserves than valuation-adjusted US dollar reserves for the first time, with a $140 billion gap favoring gold. This shift reflects growing geopolitical concerns and the unreliability of dollar reserves, as central banks increasingly prefer gold amidst uncertainty.

The United States and Iran held historic direct talks on April 11 in Islamabad, Pakistan, marking the first high-level diplomatic contact since the 1979 Iranian Revolution. The aim is to stabilize the ceasefire and seek a war-resolution solution. Both delegations are large in size, and Pakistan is serving as the intermediary. The negotiations are set against the backdrop of recent military clashes and their impact on global financial markets, and the market will closely watch developments.

Gate News message: On April 10, based on the CPI data released today, Citigroup Group’s economists initially forecast that the March core PCE (Personal Consumption Expenditures Price Index, the inflation gauge preferred by the Federal Reserve) month-over-month rate will be 0.3%. This figure is above the level implied by the Fed’s 2% year-over-year target, but it is better than February’s 0.4% increase. The Citigroup team noted that, compared with the PCE indicator favored by the Fed, core CPI has consistently shown an unusually small rise. They also need to factor in PPI data to make a more accurate forecast for PCE.

On April 10, the precious metals market was strong: gold rose to $4,773.60 per ounce, and silver rose to $76.364 per ounce. In the crypto market, volatility eased, the FX market saw the U.S. dollar weaken versus the Chinese yuan, and global equity indexes rose. In commodities, WTI crude oil rose while Brent crude oil fell. The Gate platform supports trading a variety of financial assets.

The latest data from the U.S. Bureau of Economic Analysis shows that in February, the core PCE price index rose 3.0% year over year, while overall PCE increased 2.8% year over year. Both figures are in line with market expectations, and inflation pressure remains stable. Even though people’s income has declined, consumer spending is still increasing, and the savings rate has fallen to 4.0%. The market’s view on the interest-rate cut path is somewhat neutral: inflation has not meaningfully worsened, but it has also not been dropping rapidly.

Gate News, April 10, according to Reuters, the market continues to price in expectations that the Federal Reserve will keep interest rates unchanged throughout 2026.

Gate News message, April 10, after the CPI data was released, the latest price of WTI U.S. crude oil (U.S. West Texas Intermediate) was $97.57 per barrel, and Brent crude oil (the international benchmark) was latest at $95.46 per barrel. The U.S. Dollar Index DXY (an indicator that measures the strength of the U.S. dollar against a basket of currencies) fell 10 points in the short term, with the latest reading at 98.68.

Gate News message: On April 10, the U.S. dollar spot index has fallen cumulatively by about 1.4% this week, marking the largest weekly drop since January. After the CPI data was released, market trading strategies focused on buying the U.S. dollar and oil. The foreign exchange market has now entered a news-headline-driven trading phase, and progress in the Iran-U.S. negotiations amid a fragile ceasefire is becoming the new focal point.

Gate News message: On April 10, according to CME "FedWatch" data, before the CPI data is released, the probability that the Federal Reserve will raise rates by 25 basis points in April is 1.6%, while the probability of keeping rates unchanged is 98.4%. Looking ahead to June, the probability of cumulative rate cuts of 25 basis points is 1.5%, the probability of keeping rates unchanged is 96.8%, and the probability of cumulative rate hikes of 25 basis points is 1.7%.

Gate News, on April 10, Daly, the president of the Federal Reserve Bank of San Francisco, said that if the Iran conflict is resolved quickly and oil prices fall, a rate cut is “not impossible.” She also noted that the likelihood of a rate hike is lower than the likelihood of cutting rates or keeping interest rates unchanged.

A cryptocurrency exchange became the first CEX to be approved for a Federal Reserve master account, but the account is restricted—access is limited to the Fedwire payment system, and it cannot earn interest. This move has sparked concerns about financial risk and transparency in the U.S., and regulatory experts warn it could affect financial stability. The exchange said it is complying with anti–money laundering requirements.

Analyze market expectations before the release of the U.S. March CPI data, divergences in the inflation structure, and the potential transmission pathways to crypto assets’ risk appetite.