The dollar surged as the United States and China reached a deal to temporarily cut reciprocal tariffs and tamped down concerns that a trade war between the world’s two biggest economies could lead to a global recession.
The Euro-Dollar pair dove 1.2% in the last session. The RSI indicates an overbought market.
EUR/USD dove 1.2% in the last session.
Support: 1.0845 | Resistance: 1.1377
Tether’s USDt surpassed a $150 billion market capitalization for the first time on May 12, marking a new milestone amid growing stablecoin adoption. USDt’s circulating supply has expanded by over 36% in the past year, with growth accelerating in November following the election of US President Donald Trump.
U.S. President Donald Trump hailed talks with China in Switzerland on Saturday, saying the two sides had negotiated “a total reset in a friendly, but constructive, manner.” Meeting lasted for about 8 hours, but neither side came out with an official statement.
Ether posted an impressive 29% gain between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed out at $1,385 on April 9. This sharp move triggered the liquidation of over $400 million in short ETH futures positions, suggesting that whales and market makers were caught off guard.
Japanese Prime Minister Shigeru Ishiba reiterated that he will aim for the elimination of all tariffs in trade negotiations with the United States. Ishiba said that “discussions have gradually come together,” and that Tokyo’s relationship with U.S. President Donald Trump is “surprisingly good.”
Gold extended losses and fell more than 1% after U.S. President Donald Trump announced a trade deal with the United Kingdom, raising hopes of such deals with other countries.
