Wonderful Introduction:
Youth is the nectar made of the blood of will and the sweat of hard work - the fragrance over time; youth is the rainbow woven with endless hope and immortal yearning - gorgeous and brilliant; youth is a wall built with eternal persistence and tenacity - as solid as a soup.
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: The US dollar index rebounds when encountering a strong resistance level, and the bull momentum is fading." Hope it will be helpful to you! The original content is as follows:
XM Forex APP News--During the European session on Wednesday (June 18), the US dollar index (DXY) weakened slightly, hovering around 98.69. A series of economic data released by the United States has been disappointing, and market speculation that the Federal Reserve has kept interest rates unchanged at its upcoming June meeting has heated up. Data on Tuesday showed that retail sales plummeted by 0.9% month-on-month in May, far exceeding the expected 0.7% decline, and also significantly worsened from the performance of -0.1% in April; industrial output contracted by 0.2% month-on-month, reversing the slight growth in April. These indicators indicate that consumption and manufacturing activities have become weaker, further strengthening the dovish tendency of the market. According to Reuters, traders currently believe that the probability of the Federal Reserve's interest rate cut in September is 80%, and expectations for a second rate cut in October are heating up. Temporary support for tensions in the Middle East Although domestic U.S. data put pressure on the dollar, geopolitical uncertainty in the Middle East provides partial safe-haven support for the dollar. It is reported that Iran has contacted Gulf countries such as Oman and Qatar to seek to mediate tensions and promote the United States to reach a ceasefire agreement. U.S. President Trump issued a statement on social media asking Iran to "unconditional surrender", which has heightened market concerns about the US's full-scale conflict. Under this uncertainty, the US dollar is still supported in the short term, and investors are seeking safe-haven assets in volatile markets. Technical analysis (
The above content is all about "[XM Foreign Exchange]: The US dollar index rebounds when it encounters a strong resistance level, and the bulls' momentum is fading". It is carefully edoyoko.compiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thank you for your support!
Living in the present, don't waste your present in missing the past or looking forward to the future.In life.