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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: The "newcomer" of the Federal Reserve supports two more interest rate cuts this year, and international spot gold soars by US$100 in a single day." Hope this helps you! The original content is as follows:
On October 14, in early Asian trading on Tuesday, Beijing time, the U.S. dollar index was hovering around 99.31. On Monday, the U.S. dollar index rose back above the 99 mark and finally closed up 0.43% at 99.261. U.S. bond yields fluctuated sideways, with the benchmark 10-year U.S. bond yield closing at 4.055% and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closing at 3.522%. Affected by the uncertainty of the trade situation and rising expectations for the Federal Reserve to cut interest rates, spot gold soared by $100, breaking through the $4,100/ounce mark, setting another record high, and finally closing up 2.3% at $4,110.7/ounce. Driven by the historic short squeeze in the London market, spot silver broke through $52/ounce, setting another record high, and finally closing up 4.12% at $52.37/ounce. International crude oil rebounded as Trump's restrained speech last weekend eased market risk aversion. WTI crude oil remained below the US$60 mark, eventually closing up 2.16% at US$59.23/barrel; Brent crude oil finally closed up 1.9% at US$63.18/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.31. The dollar is recovering amid an escalation in the U.S.-China trade war, with Trump threatening to impose 100% additional tariffs on Chinese goods on November 1. The retaliatory measure edoyoko.comes in response to China's increasing restrictions on rare earths and the imposition of port fees on U.S. ships. Technically, if the U.S. Dollar Index manages to close above the 99.50 level, it will move towards the nearest resistance level, which is at 100.00–100.15 interval.
In the Asian market on Tuesday, gold hovered around 4129.59. Precious metals extended their gains as investors flocked to safe-haven assets as trade tensions between the United States and China intensified again. Federal Reserve Chairman Jerome Powell is scheduled to speak later Tuesday. The escalation of trade tensions between China and the United States has reignited concerns about a trade war between the world's two largest economies, boosting gold prices and other safe-haven assets. U.S. President Donald Trump announced on Friday that he would impose new trade measures on Beijing, including 100% tariffs on all Chinese goods and export controls on critical U.S.-developed software, which will take effect on November 1.
On Tuesday in the Asian market, crude oil was trading around 59.34. Oil prices rose on Monday as trade tensions between the world's two largest economies eased. Tensions between the two countries previously sent benchmark crude prices to a five-month low on Friday. During the day, attention will be paid to the release of the minutes of the September monetary policy meeting by the Reserve Bank of Australia, the release of the IEA's monthly crude oil market report, the release of the "Global Economic Outlook Report" by the IMF, the speech by Federal Reserve Governor Bowman, and the speech by Federal Reserve Chairman Powell at an event organized by the National Association of Business Economics.
14:00 Final monthly CPI rate in Germany in September
14:00 ILO unemployment rate in the three months of August in the UK
14:00 Unemployment rate in the UK in September
14:00 Number of unemployment benefits applicants in the UK in September
16:00IEA releases monthly crude oil market report
17:00Germany's October ZEW Economic Sentiment Index
17:00Eurozone's October ZEW Economic Sentiment Index
18:00US September NFIB Small Business Confidence Index
20:45US Federal Reserve Governor Bowman delivered a speech
21:00 IMF released the Global Economic Outlook Report
At 00:20 the next day, Federal Reserve Chairman Powell spoke
The Federal Reserve Collins gave a speech at 03:30 the next day
The above content is about "[XM Foreign Exchange Market Analysis]: The "newcomer" of the Federal Reserve supports two more interest rate cuts this year, and international spot gold soared by US$100 in a single day". It was carefully edoyoko.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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