There are constant "black swans" in the global political arena, and today we are focusing on the non-agricultural correction data!

On September 9, the US dollar (USD) struggled to find demand earlier on Tuesday after it fell from its main edoyoko.competitors on Monday. Later that day, the NFIB August Business Optimism Index will appear in the U.S. Economic Calendar. More importantly, the U.S. Bureau of Labor Statistics will release preliminary benchmark revisions to employment data.

Expectations that the Fed chose to cut interest rates multiple times this year have heated up, suppressing the US dollar at the beginning of this week. The US dollar index fell 0.3% on Monday, setting its lowest single-day closing price since the end of July. Meanwhile, major Wall Street stock indexes rose slightly and closed slightly higher. U.S. stock index futures traded in the positive zone earlier on Tuesday.

Basic foreign exchange market trends:

In the Asian trading period, Australian data showed that Westpac consumer confidence index fell from 5.7% in August to -3.1% in September. In addition, the National Bank's business confidence index fell from August 8 to August 4. The Australian dollar/USD appears to have entered a consolidation phase around 0.6600 on Tuesday after rising more than 0.5% on Monday.

As expected, French Prime Minister François Bayrou lost in a vote of confidence on Monday. President Emmanuel Macron is expected to announce a replacement in the edoyoko.coming days. Despite the political turmoil in France, the euro/dollar benefited from widespread selling pressure around the dollar and closed in the positive zone on Monday. The currency is on Tuesday European timeThe pair oscillates narrowly above 1.1750.

The GBP/USD rose slightly on Monday, supported by continued weakness in the U.S. dollar. The pair held their ground earlier on Tuesday, trading in the positive area above 1.3550.

The US dollar/JPY still faces bearish pressure, falling to 147.00 in the European session on Tuesday. Japanese trade negotiator Ryoma Akazawa said earlier in the day that U.S. tariffs on Japanese goods, including automobiles and auto parts, will be lowered on September 16.

Bulle market fundamentals:

Gold prices fell in the early trading session, trading below $3,650.

Analysis of major currency trends:

Euro: Euro/USD continues to rise today, with an intraday upward trend, retesting 1.1829. Firm breakthrough will resume a larger upward trend and reach the 1.1916 forecast level. On the downside, the secondary support level below 1.1702 will first turn into a Japanese-Chinese bias. But as long as the 1.1607 support level is held, the risk will remain upward to prevent a decline.

GBP: The intraday bias of GBP/USD is still on an upward trend. A firm breakout of 1.3594 resistance will resume a rebound starting from 1.3140 and aim to retest the 1.3787 high. On the downside, the secondary support level below 1.3480 will first turn neutral. But as long as the 1.3332 support level is maintained, the risk will remain upward to prevent a decline.

JPY: USD/JPY continues to trade in range, and the intraday deviation remains neutral. On the downside, a breakout of 146.65 will indicate that the decline from 150.90 is recovering. More importantly, trades that continue to fall below the 55-day moving average (currently 147.15) will indicate that the entire rebound from 139.87 has been edoyoko.completed, with three waves rising to 150.90. Next, we should see a deeper decline, reaching the 142.66 support level. However, a breakout of 149.12 will turn the bias of retesting 150.90 backwards upwards.

The above content is about "[XM Group]: The global political world is constantly "black swans", and today we are focusing on the non-agricultural correction data!". It is carefully edoyoko.compiled and edited by the XM Forex editor. I hope it will be helpful to your transactions! Thanks for the support!

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