First: Forex Markets
The currency markets witnessed clear fluctuations this week, influenced by global trade tensions and economic data released from several countries.

• Euro vs. US Dollar (EUR/USD): The pair continued its rise, supported by the declining performance of the dollar and increased confidence in European economic indicators.

• US Dollar vs. Japanese Yen (USD/JPY): The pair recorded a decline as investors increasingly turned to the yen as a safe haven amid escalating concerns over trade tensions.

• British Pound (GBP): The pound came under pressure following an International Monetary Fund (IMF) report indicating a projected slowdown in the United Kingdom’s economic growth due to US-imposed tariffs on its exports.

Second: Gold Prices
Gold prices rose at the beginning of the week, reaching a historic high of $3,500 per ounce, as demand for safe-haven assets grew amid unstable trade and economic conditions.
However, prices later fell to around $3,318 following US statements aimed at easing economic tensions and de-escalating tariff disputes.
Despite this correction, major financial institutions such as JPMorgan and Goldman Sachs forecast that the upward trend in gold will continue, expecting it to surpass $3,700 to $4,500 by the end of 2025 or early 2026.

Third: Tariff Tensions and Their Impact on Global Markets
At the beginning of April, the United States announced new tariffs of 10% on all imports, along with selective tariffs on certain countries, in what the government called “Liberation Day Tariffs.”

• This was followed by strong reactions from several countries, including China, which imposed retaliatory tariffs on US exports.

• Global supply chains were noticeably affected, with major logistics companies such as DHL announcing the suspension of some services to the United States due to customs complications.

• The International Monetary Fund (IMF) lowered its forecast for global economic growth to 2.8%, warning that escalating tariffs pose a direct threat to emerging markets and small economies.

Fourth: Future Outlook

• Currency Markets: Fluctuations are likely to continue amid increasing uncertainty regarding the future of international trade relations.

• Gold Prices: Despite the recent decline, the overall trend remains upward amid ongoing economic tensions.

• Global Trade: Further slowdown is expected, especially if protectionist policies persist and tariffs expand to cover new sectors.