Trump's statements continue to rock stock markets, pushing down the dollar and oil prices

After it became known that Trump was considering firing Fed Chairman Powell, who does not report directly to the US president, US stock indexes fell by 2.4-2.5%, the dollar fell to a 3-year low, and gold prices rose to a record high.

On the Truth Social platform, Trump wrote yesterday that the head of the US Central Bank (Fed) should lower interest rates NOW to stimulate the economy.

Trump's attack on the independence of the Federal Reserve is supporting confidence in the dollar, which will encourage investors to liquidate their dollar assets, including stocks and Treasury bonds. The active sale of US debt will lead to a rise in interest rates and increase pressure on the US budget, which already pays more than $ 1 trillion in interest per year on loans alone.

The markets' reaction was a drop in the S&P 500 index by 2.36%, the Dow Jones Industrials by 2.48%, the Nasdaq 100 by 2.46%, the dollar's exchange rate against the euro to 1.153, and a 1.9% increase in gold prices to a record $3,489/ounce on Monday.

June Brent crude futures rose by 4.5% at the end of the week, but yesterday fell by 2.7% to $66.2/barrel (-8.9% for the month), and WTI crude futures fell by 2.4% to $62.5/barrel (-10% for the month).

The fall in US stock markets and the trade war with China may slow global economic growth and demand for energy, but the decline in the dollar has somewhat restrained the decline in oil prices.

US plans to lift restrictions on Iranian oil exports are increasing pressure on oil prices, especially against the backdrop of Iran's Foreign Ministry's statement that the parties reached a mutual understanding in recent talks with the US on its nuclear program.

According to Vortexa, the volume of crude oil stored on tankers that have been in berths for at least a week rose by 19% between April 12 and 18 to an 8-month high of 78.19 million barrels, which is also putting pressure on prices.

Commodity markets remain stable for now, but a further decline in oil prices will lead to a drop in prices for agricultural raw materials, especially in the event of favorable weather in exporting countries.