
The US Dollar Index fell below 99, reaching its lowest level since April 2022, while gold prices soared to new record highs. Meanwhile, geopolitical tensions between Ukraine and Russia escalated, with both sides accusing each other of violating ceasefire
After opening on April 21, spot gold prices surged by over 1%, hitting a new historical high of 3,373.98 USD per ounce.
In the retail sector, as of April 19, the price for jewelry gold at Chow Tai Fook, Chao Hong Ji, Luk Fook Jewelry, Saturday Gold, and Zhou Da Sheng was THB 34,000 per gram, while it was THB 33,800 per gram at Chow Sang Sang and Lao Miao Gold, and THB 33,900 per gram at Lao Feng Xiang.
The US Dollar Index (98.2285, -0.9996, -1.01%) broke below 99, marking the first time since April 2022. It fell by 0.24% intraday.
Brent crude oil futures saw their losses widen to 1%, currently trading at USD 67.04 per barrel, down 0.81%.
According to a report by Securities Times on April 21, Chicago Federal Reserve Chairman Charles Evans stated that economists unanimously agree that the independence of monetary policy from political interference is extremely important. He hopes the US will not fall into a situation where the independence of its currency is questioned.
He also mentioned that preemptive purchasing before tariffs are implemented may be more evident in the business sector. This increases the possibility that current economic activity seems artificially high but will decline later.
Evans believes that reliable data up to April has been quite good. Therefore, the Fed remains in no rush to cut interest rates. Previously, Fed Chairman Jerome Powell, speaking at the Chicago Economic Club, clearly stated that he would not take emergency measures due to market volatility.
Including Powell, several officials have expressed their preference for "waiting and seeing" until they have a clearer understanding of the actual impact of trade and other policies.
According to Xinhua News Agency, on April 17, US President Donald Trump criticized Federal Reserve Chairman Jerome Powell for "playing politics," saying he could immediately dismiss Powell. Powell had previously stated that according to US law, Trump does not have the authority to remove him.
Trump posted on the social media platform Truth Social on April 17, stating that Powell should have cut interest rates like the European Central Bank long ago, always being "late and wrong." The sooner Powell leaves, the better. When questioned by the media at the White House, Trump said, "If I want him gone, believe me, he'll be gone soon. I'm not satisfied with him." The day before, Powell indicated that the Fed would not succumb to political pressure and would focus on combating inflation amid the complex economic situation brought about by recent tariff policies under the Trump administration.
Powell was nominated by Trump in 2017 to become Fed Chairman, approved by the Senate, and reappointed by President Biden in 2022, with his term ending in May 2026. Last November, he stated he would not resign voluntarily.
During his first term, Trump frequently criticized Powell, often urging the Fed to cut interest rates, and even threatened to remove him. After being re-elected president, the conflict between Trump and Powell again drew public attention. Powell had previously stated that Trump did not have the authority to dismiss him according to US law.
According to CCTV News reports, Ukrainian President Volodymyr Zelenskyy posted on social media on the evening of April 20 that based on reports from General Serhiy Nayev, Commander-in-Chief of the Armed Forces of Ukraine, Russia had violated President Putin's ceasefire order more than 2,000 times since midnight that day. Russian forces launched 67 assaults on Ukrainian positions, mostly concentrated in the Pokrovsk direction. They conducted 1,355 artillery attacks, including 713 heavy weapon strikes and 673 drone attacks using FPV drones. Zelenskyy noted that Russian forces almost everywhere failed to honor their promised "silence."
Zelenskyy proposed that both sides cease using long-range drones and missile attacks on civilian infrastructure for at least 30 days, with the possibility of extension based on circumstances.
On the same day, Russian Foreign Ministry Spokesperson Maria Zakharova posted on social media that although the US State Department hoped for the continuation of the ceasefire between Russia and Ukraine after Easter, Kyiv had not adhered to the ceasefire during Easter, even using US-provided HIMARS rocket systems to disrupt the ceasefire. Zakharova emphasized that Ukraine's disruption of the ceasefire was not accidental but inevitable. During the suspension of attacks on energy facilities, although President Zelenskyy agreed, Ukraine deliberately targeted civilian energy infrastructure.