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Hello everyone, today XM Forex will bring you "[XM Forex Official Website]: A collection of good and bad news affecting the foreign exchange market". Hope this helps you! The original content is as follows:
On October 13, the U.S. dollar index rebounded 0.42%. On the 14th, the U.S. dollar index rose 0.43% to 99.26. As Trump eased his trade rhetoric, the Treasury Department released potential signals of tariff downgrades, and the U.S. economic data showed a downward trend but remained stable overall, the market expected that the Federal Reserve would implement a moderate interest rate cut in the future after aggressively cutting interest rates by 50 basis points. These factors have promoted the rise of the U.S. dollar index, which is positive for the U.S. dollar.
Federal Reserve Chairman Paulson said she supports two more interest rate cuts this year, each by 25 basis points. This statement indicates that there is a tendency within the Federal Reserve to further cut interest rates. If this expectation is realized, it will weaken the attractiveness of the US dollar and be negative for the US dollar.
Japan has encountered political turmoil, and the collapse of the Japanese government alliance has weakened the safe-haven demand for the yen, causing the yen to depreciate to 152.15. In addition, Bank of Japan Governor Kazuo Ueda will visit the United States from October 14th to 19th. His remarks and actions during the visit may have an impact on the yen exchange rate. Against the background of political turmoil, market confidence in the yen may be further impacted.
The European Central Bank announced on the 13th that it has formulated transitional provisions for the implementation of minimum reserve requirements after Bulgaria adopts the euro. At the same time, the European Central Bank is widely expected to cut interest rates this week, which puts pressure on the euro. On October 14, the euro fell 0.45% against the US dollar to 1.1570. The European Central Bank's interest rate cut expectations were negative for the euro.
China's exports in US dollar terms in September increased by 8.3% year-on-year, and imports increased by 7.4% year-on-year, both exceeding expectations. Industrial robots and wind power exports grew strongly. In September, soybean and iron ore imports hit a record high for the same period in history, and copper metal imports hit a new high for the year. Strong trade data shows that China's economy is highly resilient, which will help increase market confidence in the RMB and be positive for the RMB.
The U.S. government shutdown has entered its 13th day, and the deadlock in negotiations has exacerbated market uncertainty. Seven temporary spending bill votes have failed, with the next one scheduled for October 14. The government shutdown has delayed the release of key economic data, and the market is worried about the outlook for the U.S. economy, which may put some pressure on the U.S. dollar and also increase the risk of volatility in the foreign exchange market.
The Ministry of Transport of China has issued implementation measures for special port fees for U.S. ships, which will edoyoko.come into effect on October 14. Qualified U.S. ships berthing at Chinese ports will be charged RMB 400 per edoyoko.com ton, and the fees will increase year by year for the next three years. This measure may have an impact on trade and shipping between China and the United States, which will in turn affect the exchange rates of related currencies, such as the RMB and the US dollar.
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