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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The US dollar index rebounded nearly 100 points, and gold hit the 3500 mark and dived more than $130!". Hope it will be helpful to you! The original content is as follows:
On April 23, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 99.30. On Tuesday, the dollar index rebounded nearly 100 points at a low of nearly a hundred points, finally closing up 0.634% to 98.98, amid optimistic expectations of U.S. tariff trade negotiations. U.S. Treasury yields rose and fell, with the benchmark 10-year U.S. Treasury yields closed at 4.4%; and the two-year U.S. Treasury yields, which are more sensitive to monetary policy, closed at 3.825%. As global trade tensions eased, boosted risk sentiment and the dollar strengthened, spot gold surged and fell back, hitting the $3,500 mark historic during the session and then fell sharply by more than $130, and finally closed down 1.24% at $3,382.17 per ounce. Spot silver also showed an inverted V trend, and failed to challenge the $33 mark again, and finally closed down 0.59% at $32.48 per ounce. International crude oil rebounded from a sharp sell-off on the previous trading day as the U.S. imposed new sanctions on Iran and stock markets rose. WTI crude oil once stood above the 64 mark and finally closed up 1.28% to $63.41 per barrel; Brent crude oil closed up 1.06% to $66.44 per barrel.
Dollar Index: As of press time, the US dollar index hovers around 99.30. U.S. President Trump said he had no intention of firing Fed Chairman Powell despite his frustration that the Fed failed to lower interest rates faster. Trump has repeatedly complained that the Fed has not cut interest rates quickly enough. Trump reiterated the criticism on Tuesday, while insisting that the outside world's reaction to his remarks was "exaggerated". Technically, the U.S. dollar index is trying to close above resistance at 98.80–99.00. If you try this timeIf the test is successful, the US dollar index will move towards 50MA of 99.70. .
Which trading was held in Asian trading, gold trading was around 3365.46. Gold prices fell intraday in Asia on Wednesday, which was related to comments by Trump saying he did not intend to fire Fed Chairman Jerome Powell. Recently, U.S. President Donald Trump said he had no intention of firing Powell. He said: The media always exaggerates. No, I have no intention of firing him. I hope he can be more positive about the idea of lowering interest rates.
On Wednesday, crude oil trading around 64.08. As uncertainty in US monetary policy deepens, the chance of an economic recession is close to 50%, making a red light for crude oil demandlamp. Progress in Iran's nuclear negotiations has eased sanctions pressure and could increase crude oil supply in the region. Traders will also look at the speeches of several Fed officials later this week, hoping to find clues to future monetary policy as people worry about the Fed’s independence. This trading day will also release the initial value of the euro zone and the US SPGI manufacturing PMI in April. Investors also need to pay attention to the news related to the geopolitical situation in Russia and Ukraine.
To be determined G20 Finance and Central Bank Ministerial Meeting held
15:15France in April manufacturing PMI initial value
15:30Germany in April manufacturing PMI initial value
16:00Eurozone in April manufacturing PMI initial value
16:30Eurozone in April manufacturing PMI initial value
16:30Eurozone in April service PMI initial value
17:00Eurozone in February seasonal adjustment trade account
21:30Feder Mousalem and Waller delivered speeches
21:45Eurozone in April S&P Global Manufacturing PMI initial value
16:30Eurozone in February seasonal adjustment trade account
21:30Feder Mousalem and Waller delivered speeches
21:45Eurozone in April S&P Global Manufacturing PMI initial value
21:45 The initial value of the S&P Global Services Industry PMI in April
22:00 The total number of new home sales in the United States in March
22:30 The EIA crude oil inventories in the week from the United States to April 18
22:30 The EIA Cushing crude oil inventories in the week from the United States to April 18
22:30 The EIA strategic oil reserve inventories in the week from the United States to April 18
The next day, the Federal Reserve announced the Beige Book of Economic Conditions
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