Group 1: Economic and Political Developments - President Trump vowed to remove homeless individuals from Washington D.C. and imprison criminals, despite the mayor's assertion that crime rates have not significantly increased [1] - The White House is preparing to deploy hundreds of National Guard troops to Washington, although the final decision on troop numbers and specific roles is still pending [1] - The U.S. trade representative confirmed that a 15% tariff is not being imposed, leading to a significant drop in European exports to the U.S., particularly a 36% decline in automobile exports [2] Group 2: Market Reactions and Commodity Prices - Gold prices reached a record high due to tariff uncertainties, with futures rising over 2% before the White House clarified that no tariffs on gold would be imposed [2] - Gold closed at $3,397.79 per ounce, with a trading range between $3,379.26 and $3,408.18 per ounce, indicating strong demand for safe-haven assets [2] - The market is closely monitoring the implementation of tariff policies, changes in Federal Reserve personnel, and geopolitical risks [2] Group 3: Technical Analysis of Gold - The daily chart for gold shows an expanding BOLL channel and a KD death cross, while the four-hour chart indicates an upward BOLL channel and a KD golden cross [3] - The one-hour chart suggests a narrowing BOLL channel with a KD golden cross, indicating potential short-term upward movement [3] - The key support level for gold is identified at $3,350 per ounce, which is crucial for maintaining bullish momentum [3] Group 4: Trading Strategies - For gold, buy recommendations include entering at $3,365.00 with a stop loss of $7 and a take profit target of $3,400/$3,410 [5] - Another buy strategy suggests entering at $3,350.00 with the same stop loss and a take profit target of $3,395/$3,400 [5] - The strategies emphasize the importance of adjusting stop losses to mitigate risks while trading [20]

V i e w p o i n t | Brian Levine +1-212-816-6896 brian.levine@citi.com Osamu Takashima +81-3-6776-3251 osamu.takashima@citi.com 29 May 2025 13:15:24 ET │ 10 pages Global FX Strategy Uncertainty is the only certainty CITI'S TAKE FX markets have been quick to fade the overnight USD rally after President Trump's IEEPA tariffs were struck down in court; we see this as a market recognition that this ruling will be appealed and that there are other tools available for the Trump administration (such as Section 122 ...