empty
30.04.2025 01:31 PM
100 Days of Trump's Presidency

While the dollar prepares for key economic data that could determine the Federal Reserve's next course of action, Donald Trump reflected on his first 100 days as President of the United States.

During his speech, Trump resumed his criticism of Federal Reserve Chair Jerome Powell, stating that interest rates should be lower. "Inflation has fallen, but interest rates haven't. Obviously, I have someone at the Fed who isn't doing a very good job," Trump said at a rally near Detroit, Michigan.

This image is no longer relevant

The President's condemnation came despite his earlier comments this month that he did not plan to fire the head of the central bank, even though he has continuously criticized the Fed's slow pace of interest rate cuts. Uncertainty surrounding Powell's fate has rattled the markets and deepened investors' concerns over Trump's tariff plans. "You shouldn't criticize the Fed," Trump said. "You should let it do its job — but I know a lot more about interest rates than he does."

Trump wrapped his criticism in a broader defense of his signature economic agenda, asserting that his sweeping tariff policy would inspire a wave of economic growth and bring manufacturers back to the U.S. Just hours before the rally, Trump signed directives rolling back some of his planned tariffs — including the removal of 25% duties on auto parts used in cars and trucks manufactured in the United States. The president called this move a "small flexibility" intended to give companies time to resume domestic production, while also issuing a stern warning to automakers still considering the import of components.

Polls show that voters are wary of Trump's economic agenda and are concerned that tariffs could trigger a recession and a spike in consumer prices. It is therefore not surprising that, according to recent data, U.S. consumer confidence in April fell to a five-year low.

Trump's approval rating has dropped to the lowest level in decades for a president at this milestone. These ratings have fallen amid concerns over his economic management and fears of a potential recession. Only 39% of respondents in an ABC News/Washington Post poll said they approve of Trump's performance as president, while a CNN poll showed a 41% approval rating.

Immigration remains an area of relative strength for the Republican president, who has intensified government efforts to curb border crossings and deport illegal immigrants from the U.S. Trump's second term has also been marked by a campaign to rapidly reshape the government.

Trump has also led a large-scale effort to overhaul Washington's foreign relations, renewing his first-term calls for European allies to increase NATO contributions, while demanding U.S. naval passage through the Panama Canal, discussing the potential acquisition of Greenland, and musing that Canada should become the 51st U.S. state.

As for the current technical picture of EUR/USD, buyers now need to focus on breaking above the 1.1380 level. Only then will it be possible to aim for a test of 1.1440. From there, a move toward 1.1490 becomes viable, although achieving this without support from major players will be quite challenging. The furthest target is 1.1530. In the event of a decline, I expect meaningful buying activity only around 1.1320. If no buyers appear there, it would be best to wait for a retest of the 1.1265 low or consider long positions from 1.1215.

As for the current technical picture of GBP/USD, pound buyers need to break through the nearest resistance at 1.3370. Only this would allow a move toward 1.3400, above which a breakout will be quite difficult. The furthest target is the 1.3440 area. In the event of a drop, bears will try to gain control at 1.3333. If successful, a break of that range will deal a serious blow to the bulls' positions and push GBP/USD toward the 1.3280 low, with the prospect of a move toward 1.3240.

Jakub Novak,
Analytical expert of InstaTrade
© 2007-2025

Recommended Stories

XAU/USD. Analysis and Forecast

Gold is declining below the $3300 level today. U.S. PCE data met expectations. A shift in trade flows is helping the U.S. dollar regain positive momentum. This is also undermining

Irina Yanina 17:37 2025-05-30 UTC+2

Inflation Is Almost Under Control

While the euro continues to hold its ground against the dollar, European Central Bank (ECB) Governing Council member Fabio Panetta indicated during an interview today that inflation in the eurozone

Jakub Novak 13:40 2025-05-30 UTC+2

USD/CAD. Analysis and Forecast

The USD/CAD pair is attempting to regain positive momentum today, though traders remain cautious ahead of the key U.S. Personal Consumption Expenditures (PCE) Price Index release. As a preferred inflation

Irina Yanina 13:22 2025-05-30 UTC+2

EUR/USD. Analysis and Forecast

The EUR/USD pair continues to struggle to recover after rebounding from the 1.1200 level reached earlier, showing a moderately negative bias, although the decline remains limited. The U.S. dollar

Irina Yanina 13:19 2025-05-30 UTC+2

Legal Disputes Between Trump and Companies Over Tariffs Will Negatively Impact Markets (There Is a Likelihood of Continued Decline in Bitcoin and Litecoin Prices)

Global markets are significantly influenced by events occurring in the United States, where both political and economic spheres continue to swing like a pendulum. Earlier this week, after the U.S

Pati Gani 11:11 2025-05-30 UTC+2

More Time is Needed

Dallas Federal Reserve Bank President Lorie Logan indicated yesterday that it might take some time before policymakers understand how the economy will react to tariffs and other policy changes

Jakub Novak 10:53 2025-05-30 UTC+2

The ECB Should Not Delay Rate Cuts

While the euro is trying to regain its monthly highs after a fairly significant correction seen this week, a survey of several economists shows that the European Central Bank

Jakub Novak 10:49 2025-05-30 UTC+2

Markets Demand an Appeal

The S&P 500 started the day strong but ended on a downbeat note. Initially buoyed by the U.S. Court of International Trade's ruling that the White House's tariffs were illegal

Marek Petkovich 10:33 2025-05-30 UTC+2

What to Pay Attention to on May 30? A Breakdown of Fundamental Events for Beginners

Several macroeconomic reports are set to be released on Friday, but none are deemed particularly significant. In Germany, the inflation report for May will be released, with expectations

Paolo Greco 06:51 2025-05-30 UTC+2

GBP/USD Overview – May 30: Justice Has Prevailed, but for How Long?

The GBP/USD currency pair closed below the moving average line on Thursday, and the dollar strengthened for three consecutive days. However, everything changed in the second half

Paolo Greco 03:51 2025-05-30 UTC+2
Can't speak right now?
Ask your question in the chat.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.