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Hello everyone, today XM Forex will bring you "[XM Official Website]: Trump will have to wait two weeks to make a decision! The market is temporarily relieved, and the US dollar may still have room for downward trend." Hope it will be helpful to you! The original content is as follows:
Intraday of the European market on June 20, the US dollar (USD) had difficulty finding demand earlier on Friday, as market focus will turn back to geopolitics after this week's central bank meeting. In the second half of the day, Canadian retail sales in May and the initial consumer confidence value data in the euro zone in June will become the feature of the economic calendar.
The Fed's cautious stance on policy easing and a risk-averse market atmosphere helped the U.S. dollar outperform other edoyoko.competitors in early trading on Thursday. However, after reaching a weekly high above 99.00, the U.S. dollar index lost its traction, fluctuating around 98.60 for the last time.
On Thursday, reports suggested that the United States (US) was directly involved in the Iran-Israel conflict and the market turned into risk aversion. Later that day, the chairman of the U.S. Senate Intelligence edoyoko.committee pointed out that U.S. President Donald Trump said he would give Iran a last chance to reach an agreement to end its nuclear program. Trump's final decision to launch the strike was reportedly delayed by up to two weeks. Although Israel and Iran continue to confront each other, the development seems to have helped the market feel relieved.
During the Asian trading hours, the People's Bank of China (PBOC) announced that it would maintain the most preferential interest rate (LPR) for one- and five-year loans at 3.00% and 3.50%.
Data from Japan showed earlier Friday that the national consumer price index rose 3.5% year-on-year in May, following a 3.6% increase in April. Meanwhile, Japan's chief trade negotiator Ryoseki Akazawa said Friday in a edoyoko.commentary on trade talks with the United States that Japan would not pay attention to the imminent date of so-called reciprocity tariffs returning to higher levels. “We are looking forThe possibility of a deal in ministerial negotiations, but the outlook remains shrouded in fog,” Akazawa added.
The UK National Statistics Office reported on Friday that retail sales fell 2.7% month-on-month in May, while market expectations were -0.5%. On Thursday, the Bank of England (BoE) announced that it would keep the policy rate unchanged at 4.25%, in line with expectations.
Dollar/yen fluctuated in a narrow channel slightly below 145.50.
GBP/USD struggled to accumulate bullish momentum, trading below 1.3500 in early Friday.
Euro/USD stabilized above 1.1500 in early European session, after rebounding from a weekly low of 1.1450 on Thursday.
Euro/USD stabilized above 1.1500 in early Friday European session, after rebounding from a weekly low of 1.1450 on Thursday.
>Gold prices are expected to consolidate intraday declines to a low of more than a week and trade slightly below the $3,350 level in the first half of the European session.
Euro: Intraday bias of Euro/USD remains neutral, with more consolidation likely below 1.1630. A further rebound is expected when the 1.1372 support is intact. A breakout of 1.1572 will continue the uptrend from 1.0176. The next target is a forecast of 1.0176 to 1.1572 from 1.1064 to 1.1927. However, a breakout of 1.1372 support will indicate a short-term peak and turn down to get a deeper pullback.
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