The U.S. dollar index is on track for its worst performance during the first 100 days of a U.S. presidency since the Nixon era, having declined nearly 9% since January 20, when Donald Trump returned to the White House. This drop marks the largest loss through the end of April since at least 1973, contrasting with the typical strength seen in the currency during the early days of recent presidencies. The so-called Nixon shock of 1971, which ended the Bretton Woods system of fixed exchange rates, has been cited as a historical parallel. Trump's tariff policy and heightened economic, trade, and geopolitical uncertainties have contributed to the dollar's weakness, prompting investors to seek assets outside the U.S. Speculative traders, including hedge funds and asset managers, have increased bearish bets on the dollar, with positions worth about $10 billion as of the week ended April 15, according to the Commodity Futures Trading Commission. Gold prices have surged, with a year-to-date increase of 29%, the best performance since 1974, and a 63% rise since January 1, 2024. This rally is attributed to investors seeking refuge amid heightened economic, trade, and geopolitical uncertainties. Analysts from JPMorgan have forecasted gold prices to reach $4,000 per ounce by the second quarter of 2026, driven by strong demand from investors and central banks, averaging around 710 tonnes per quarter this year. ServiceNow Inc. reported a strong first quarter with revenues of $3.09 billion, up 19% year-over-year, and adjusted earnings per share of $4.04, surpassing expectations. The company's performance was bolstered by robust demand for AI-powered solutions and workflow automation, leading to a 22% year-over-year increase in current remaining performance obligations. ServiceNow also raised its full-year subscription revenue guidance to $12.68 billion, reflecting confidence in sustained growth. The company's public sector business grew 30% during the period, and CEO Bill McDermott highlighted 'very positive' discussions with the Department of Government Efficiency (DOGE), led by Elon Musk, indicating a shared ambition to transform government operations. Binance has launched Fund Accounts, a new technological solution designed to enable fund managers to pool investor assets based on specific trading strategies. This move aims to attract traditional fund managers to the cryptocurrency ecosystem by offering a centralized and efficient management system, enhancing transparency and security for investors.
‼️Gold is saying something is WRONG with either the financial system, global economy, geopolitical climate, or both: Gold prices have risen 29% year-to-date, the best performance since 1974. Since January 1, 2024, gold prices have surged 63%. READ👇 https://t.co/UeQDN58fzq
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