The US dollar index continues to decline, and spot gold rose by more than $1,000 this year!

On September 9, in the early trading of the Asian market on Tuesday, Beijing time, the US dollar index hovered around 97.37. The dollar index continued its decline on Monday, ending down 0.28% to 97.47 after last week's weak U.S. jobs report was released. The benchmark 10-year U.S. Treasury yield closed at 4.0430%, while the 2-year U.S. Treasury yield closed at 3.4970%. Boosted by weak U.S. labor data and expectations of the Federal Reserve's interest rate cut next week, spot gold rose above $3,630, setting a new record high, rising more than $1,000 this year, and finally closed up 1.38% to $3,635.50/ounce; spot silver finally closed up 0.81% to $41.30/ounce. The EU plans to push forward the 19th round of sanctions on Russia to lock in banks and oil trade. Oil prices closed higher on Monday, regaining some of the lost land last week. WTI crude oil finally closed up 0.79% at $62.45 per barrel; Brent crude oil finally closed up 0.87% at $66.23 per barrel.

Analysis of major currencies

Dollar Index: As of press time, the US dollar index hovered at US$97.37. The market has digested that the Fed will almost certainly cut interest rates at its upcoming meeting, with a 10% chance of a greater rate cut of 50 basis points. Technically, the US dollar index has fallen below the 98.00 support level, weakening the bullish momentum. Continuous decline below this area will indicate a further decline to 97.00,

Euro: As of press time, the euro/dollar hovers around 1.1770. EUR/The dollar pair is bullish in a row, rising more than 0.37% on Monday as traders are confident that U.S. monetary policy will resume a cycle of easing after Fed Chairman Jerome Powell admitted weak labor markets. Technically, the pair traded above the 50-day moving average (1.17), with a significant bullish breakthrough. Closed above 1.1750 may open the door to 1.18. The outlook for the short term is mildly bullish given the weak dollar and positive euro positions.

GBP: As of press time, GBP/USD is hovering around 1.3559. The GBP/USD rose further on Monday, expanding another 0.35%, regaining the chart area above 1.3550. As U.S. employment data plummets, overall market sentiment is hoped by the Federal Reserve's next meeting on September 17. However, the latest batch of U.S. Consumer Price Index (CPI) inflation will be announced this week, which could disrupt interest rate expectations. Technically, the GBP/USD is breaking through the 1.30-day and 1.31-day moving averages around 50-200, confirming the bullish momentum. Breakthroughs through the near-term resistance level 1.3550 will strengthen this trend. The recent bias of GBP/USD remains bullish driven by yield differences and solid technical support.

Analysis of gold and crude oil market trends

1) Analysis of gold market trends

On Tuesday, gold hovered around 3637.68. As weak U.S. labor market data strengthened the Fed's expectations of a rate cut next week, gold prices continued to hit a historical high of $3,646.23 per ounce on Monday, and gold prices are expected to continue to rise to around 3,700-3,730 in the short term. This trading day will usher in the release of the annual benchmark correction data of the US Bureau of Labor Statistics, and investors need to pay attention to it; in addition, investors also need to pay attention to the relevant news about the geopolitical situation in Russia and Ukraine.

Technical: Gold prices continued to rise on Monday, and traders pushed gold prices to break through the $3,600/ounce mark, paving the way for challenging $3,700/ounce. The bullish momentum accelerated, which was confirmed by the Relative Strength Index (RSI), which, despite being overbought, is still below the most extreme reading above 80. Therefore, gold prices are expected to rise further until the RSI drops to 80 levels, which may confirm that the peak is edoyoko.coming. If the gold price effectively breaks through $3,650/oz, the seller's next target will be $3,700/oz, $3,750/oz and $3,800/oz. On the other hand, the first support level of gold priceIt will be the September 8 low of $3578/oz, followed by $3550/oz. $3,500 per ounce will be the next line of defense for buyers.

2) Analysis of crude oil market trends

On Tuesday, crude oil trading around 62.1. WTI crude oil rose slightly after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to slow the pace of production growth edoyoko.compared to previous months. OPEC+ has agreed to further increase oil production from October as its leader Saudi Arabia is working to regain market share. The group decided to increase production by 137,000 barrels per day from October. This increase is significantly lower than the previous gains of about 555,000 barrels per day in August and September and 411,000 barrels per day in June and July.

Technical: The crude oil price trend is still unstable. WTI crude oil is currently testing its low of $61.45 last Friday. If it falls below $61.12, it may trigger a sell-off wave and oil prices may fall further to $59.74 - a price level that has not yet appeared since May 30. In terms of resistance level, the 100-day moving average is $64.56, which constitutes the first resistance, followed by the 50-day moving average is $65.35.

Forex market trading reminder on September 9, 2025

①To be determined Domestic refined oils open a new round of price adjustment window

②14:45France July industrial output monthly rate

③18:00US NFIB Small Business Confidence Index in August

④22:00US Bureau of Labor Statistics released the annual benchmark correction data for non-agricultural standards

⑤EIA announced the next day at 00:00EIA Monthly Short-term Energy Outlook Report

⑥The next day, 01:00 Apple's autumn new product launch conference

⑦The next day, 04:30 the next day, API crude oil inventories from the United States to September 5

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