On Tuesday (April 22), the dollar index remained weak at 98.47, as President Trump’s threats against Federal Reserve Chairman Powell disrupted the market. Bitcoin surged to $87,500, gold fell back to $3,417, and safe-haven buying receded, but bulls still held the wheel. Trump hosted a tariff meeting with the CEOs of Walmart, Target, and Home Depot. Russian President Putin proposed direct peace talks with Ukraine, expressing willingness to accept more ceasefires.
Trump holds tariff negotiation meetings with Walmart, Target, and Home Depot.
On Monday, Trump met with the CEOs of the three major U.S. retailers who came to the White House to discuss how his comprehensive tariff plan would affect their import-dependent business models. Walmart CEO Doug McMillon, Target CEO Brian Cornell, and Home Depot CEO Ted Decker all attended the meeting.
White House officials told CNBC earlier on Monday that representatives from Lowe's would also attend the meeting. However, after the meeting, officials told NBC News that no one from the company attended.
After the meeting, the three companies issued nearly identical statements. A Walmart spokesperson said, "We had a productive discussion with President Trump and his team, and we appreciate the opportunity to share our insights."
Target pointed out in a statement: 'We had a productive discussion with President Trump and our retail peers about the future direction of trade, and we will continue to be committed to providing value to American consumers.'
Home Depot mentioned in a statement: 'We had a rich and constructive discussion with President Trump and look forward to continuing the dialogue.'
Trump stated that the meeting was 'going well' and added that it was 'an honor that they could come to the Oval Office.'
Putin proposed 'direct' peace talks and is willing to accept more ceasefires.
Hong Kong (South China Morning Post) reported that under U.S. pressure, Putin expressed willingness to achieve peace in Ukraine. On Monday, he proposed bilateral talks with Kyiv for the first time in years and stated that he was willing to accept more ceasefires after a one-day Easter truce.
Additionally, Ukrainian President Zelensky confirmed that Kyiv would send a delegation to London to meet with representatives from the U.S. and other Western countries on Wednesday.
The London talks are a follow-up to last week's Paris meeting, where the U.S. and European countries discussed ways to end the ongoing war that has lasted for more than three years.
In an interview with a Russian state television reporter, Putin stated that he unilaterally announced an unexpected ceasefire for 30 hours during Easter on Saturday, but fighting resumed afterward.
Both countries accused each other of violating Putin’s ceasefire agreement, while Kyiv has fundamentally viewed Putin’s ceasefire agreement as just a ploy from the beginning.
The U.S. welcomed the extension of the ceasefire agreement, and Zelensky called for the ceasefire agreement to be extended for 30 days, targeting civilian objectives. He stated that Russia continued to launch attacks during the ceasefire on Sunday, indicating Moscow's intent to prolong the war.
Putin commented that Moscow is open to any peace initiative and hopes that Kyiv will take the same stance.
According to the International News Agency, Kremlin spokesman Dmitry Peskov told reporters: 'When Putin speaks of the possibility of discussing not striking civilian targets, including bilateral discussions, he is considering negotiations and discussions with the Ukrainian side.'
Trump's threats against the Federal Reserve disrupt the market as the dollar continues to decline.
As concerns about U.S. geopolitical intervention grow, gold prices have broken through $3,400, highlighting the demand for safe-haven assets. Trump's repeated attacks on Powell—and reports that his administration is considering legal avenues to remove him—have shaken investor confidence.
The dollar index fell to the 98.00 area, reflecting market concerns about the potential politicization of the central bank. Comments from White House advisor Kevin Hassett and Trump’s posts on the 'Truth Social' platform only deepen the perception of his adversarial attitude towards monetary independence.
Analysts at Canadian Imperial Bank of Commerce warned that weakening the Federal Reserve could undermine its credibility in fighting inflation, which could push inflation expectations higher and further pressure the dollar.
Dollar Technical Analysis
FXStreet analyst Patricio Martín stated that the technical backdrop for the dollar index remains bearish, trading near 98.50, close to the bottom of the intraday range of 97.92-99.21, showing a strong bearish tendency. The Relative Strength Index (RSI) has dropped to 24.22, entering deep oversold territory, while the Moving Average Convergence Divergence (MACD) continues to issue sell signals.
The trends of key moving averages confirm the bearish sentiment: the 20-day Simple Moving Average (SMA) is at 102.26, the 100-day moving average is at 106.04, and the 200-day moving average is at 104.63—all showing a downward trend. The 10-day moving average is at 100.38, and the SMA is at 100.69, further reinforcing the current horizontal resistance.
Key resistance levels are at 98.65, followed by 100.38 and 100.69. While some short-term oscillators, such as the Ultimate Oscillator (37.76) and the Stochastic Oscillator (-3.54), appear neutral, the dominant structure remains clearly bearish. Unless the geopolitical situation clarifies or risk sentiment shifts, the dollar index seems poised for further decline.
Gold Technical Analysis
FXEmpire analyst Vladimir Zernov stated that as Trump continues to attack Federal Reserve Chairman Powell, urging him to cut interest rates, gold prices are testing new highs.
From a technical perspective, gold prices have broken through the resistance level of $3,350-$3,360 and are moving towards the level of $3,450.
Bitcoin Technical Analysis
CoinTelegraph noted that after several days of narrow trading, Bitcoin surged sharply, reaching the key resistance level of the 200-day moving average at $88,238.
The moving averages are about to complete a bullish crossover, and the RSI has risen into positive territory, indicating that buyers are in control. If the 200-day moving average (SMA) breaks, it suggests that Bitcoin may have bottomed out in the short term.
Bitcoin may rebound to $95,000 and subsequently break through the psychological key level of $100,000.
The 20-day moving average of $84,176 is likely to provide strong support in any pullback. A drop below and a close under the 20-day moving average indicates that bears are back in the market. The currency pair may then drop to $78,500.
