Wonderful Introduction:
A quiet path will always arouse a relaxed yearning in twists and turns; a huge wave, the thrilling sound can be even more stacked when the tide rises and falls; a story, only with regrets and sorrows can bring about a heart-wrenching desolation; a life, where the ups and downs show the stunning heroism.
Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: The US dollar has fallen to a multi-year low, and the government has closed down and we will count down again!". Hope it will be helpful to you! The original content is as follows:
The US dollar (USD) remains under bearish pressure in the second half of the week, with the U.S. dollar index falling to its lowest level since March 2022, falling below 97.50. May durable goods orders and home sales data will appear in the U.S. economic calendar along with the number of weekly initial jobless claims. Policymakers from major central banks will speak throughout the day.
The dollar weakened against other currencies late Wednesday and it was difficult to find demand earlier on Thursday as news that U.S. President Donald Trump is considering early appointment of the next Fed presidential candidate to weaken Fed Chairman Jerome Powell. The Wall Street Journal reported, citing people familiar with the matter, that Trump may announce Powell's possible successor by September or October. National Economic edoyoko.commission Director Kevin Hassett and Treasury Secretary Scott Bessent are both under consideration and Trump is evaluating their edoyoko.commitment to lower interest rates. Meanwhile, U.S. stock index futures rose slightly in early European trading.
Euro/USD benefited from widespread weakness in the US dollar and traded on Thursday early on above 1.1700, the highest since September 2021.
The GBP/USD maintained its bullish momentum after its fourth straight trading day gain on Wednesday, trading above 1.3700 for the first time since January 2022.
The USD/Canadian dollar fell slightly during the European period and tested 1.3700. Statistics Canada will release monthly gross domestic product (GDP) data for April on Friday.
The U.S. dollar/yen continued to be at a disadvantage after a slight increase on Wednesday, trading around 144.00 on Thursday, with the daily line falling nearly 1%.
AUD/USD continues its weekly gains, trading above 0.6500 during the European session on Thursday.
Following a sharp decline earlier this week, gold gained support and gained a little on Wednesday.
Gold prices attracted some buyers for the second consecutive day on Thursday and remained positively biased in the first half of the European trading session.
Euro: Euro/USD continues to rise today, with intraday bias remaining upward, forecasting 1.0176 to 1.1572 from 1.1064 to 1.1927, with a forecast of 61.8%. Secondary support below 1.1589 will turn intraday bias into neutrality and lead to consolidation. But the downside space should be controlled above the 1.1452 support level to bring another rebound.
The above content is all about "[XM official website]: The US dollar has fallen to a multi-year low, and the government has closed down and countdown!" is carefully edoyoko.compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
Every successful person has a beginning. Only by having the courage to start can you find the way to success. Read the next article now!