Tashkent, Uzbekistan (UzDaily.com) — Preserving and growing savings requires assessing the reliability and prospects of various financial instruments. What factors are currently influencing major currencies and gold?

Experts from Alpari share their insights.

Euro (EUR/USD)

The euro remains under pressure due to concerns about potential U.S. tariffs and political instability.

In a bearish (negative) scenario, expectations are growing that the euro could reach parity against the U.S. dollar (EUR/USD at 1.000) this year.

Gold (XAU/USD)

Gold prices have reached record highs and may exceed $3,000 per ounce amid escalating trade tensions between the U.S. and China. Investors are turning to safe-haven assets due to geopolitical uncertainty and a potential slowdown in global economic growth. Central banks are also supporting demand for gold.

S&P 500 (US500)

The S&P 500 index, which tracks the performance of 500 of the largest publicly traded U.S. companies, could surpass 6,500 points by the end of the year—an increase of approximately 12.65% from its current level.

This growth could be driven by strong corporate earnings, particularly if the U.S. economy outperforms other nations amid heightened global trade tensions. Continued enthusiasm for AI-related stocks could also help push the index to this target.

The S&P 500 includes stocks of companies such as Apple, Nvidia, Microsoft, Amazon, Meta, Alphabet, Tesla, and others.

Uzbek Soum (USD/UZS)

The Uzbek soum continues its gradual depreciation against the U.S. dollar, currently hovering around 13,000 per dollar.

According to Uzbekistan’s Ministry of Economy and Finance, the average annual exchange rate of the dollar is expected to be 13,250 soums this year—approximately 4.8% higher than in 2024.

CHINAH Index (Hang Seng China Enterprises Index, HSCEI)

The Hang Seng China Enterprises Index (HSCEI) reflects the performance of Chinese companies listed on the Hong Kong Stock Exchange.

Over the next 12 months, it may reach 10,000 points. However, investors should consider risks such as U.S.-China trade tensions, potential sanctions, and geopolitical uncertainties that could impact China's economic performance.

Key Risks for Investors in the Current Economic Climate

Alpari experts highlight the following major risks:

Geopolitical Instability and Trade Wars.

Recent tariff measures, including China’s new duties on U.S. agricultural products, are raising concerns about global trade and economic growth.

Inflationary Risks.

High interest rates and inflationary pressures could negatively impact riskier assets such as stocks and cryptocurrencies.

Market Concentration.

The U.S. stock market shows a high degree of concentration, where a small number of companies exert significant influence on index performance.