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Hello everyone, today XM Forex will bring you "[XM Forex Platform]: The United States does not seek to depreciate the US dollar in tariff negotiations, and its focus will turn to Powell and the United States hard data." Hope it will be helpful to you! The original content is as follows:
On May 15, early trading in the Asian market on Thursday, Beijing time, the US dollar index hovered around 100.94. On Wednesday, the U.S. will not seek a weak dollar in tariff negotiations after market news said the U.S. trade tariff agreement with Japan, South Korea and India was "closely reached", and the U.S. will not seek a weak dollar in tariff negotiations. The U.S. dollar index rebounded after falling close to the $100 mark and finally closed up 0.11% to 101.04. The benchmark 10-year U.S. Treasury yield closed at 4.5380%; the two-year U.S. Treasury yield closed at 4.0570%, which is more sensitive to monetary policy. Spot gold hit a more than one-month low as trade optimism heated up, ending down 2.24% to $3,176.58 per ounce. Spot silver finally closed down 2.1% at $32.20 per ounce. EIA data showed that U.S. crude oil inventories increased last week, causing investors to worry about oversupply. WTI crude oil finally closed down 1.19% at $62.82 per barrel; Brent crude oil closed down 1.16% at $65.77 per barrel.
Dollar Index: As of press time, the US dollar index hovers around 100.94. It fell to the 100 mark on Wednesday around 100.60. The decline comes after U.S. inflation data fell below expectations and confirmation of U.S. and South Korea's negotiations on currencies, Bloomberg reported. The US dollar is at a disadvantage in the face of most major Asian currencies. Technically, if the U.S. dollar index rebounds above the 101.00 level, it will move towards resistance at 101.40–101.60.
On Thursday, gold trading around 3182.48. As risk appetite improvement and trade negotiations make progress, the potential upward space for gold may be restricted in the short term. As tensions in the global trade war ease, precious metals remain on the defensive, forcing investors to stay away from safe-haven demand. The United States and China agreed to lower tariffs on each other after two-day negotiations in Geneva, Switzerland. The United States lowered tariffs on Chinese imports from 145% to 30%, while China lowered tariffs on U.S. imported goods from 125% to 10%.
On Thursday, crude oil trading around 61.78. WTI prices fell sharply due to unexpected rise in U.S. crude oil inventories and concerns about demand. U.S. crude oil inventories unexpectedly increased last week, sparking concerns among investors about oversupply. The U.S. Energy Information Administration (EIA) weekly report shows that U.S. crude oil inventories rose by 3.454 million barrels in the week ending May 9, compared with a decrease of 2.032 million barrels the previous week. The market generally expects inventory to drop by 1 million barrels.
①To be determined the Federal Reserve holds the Thomas Laubach Research Association
②To be determined Zelensky and Putin have direct negotiations
③14:00The initial value of the first quarter GDP annual rate in the UK
④14:00The UK’s three-month GDP monthly rate in March
⑤14:00The UK’s March seasonally adjusted commodity trade Account
⑥14:00 UK's monthly output rate in March
⑦14:45 France's April CPI monthly rate final value
⑧16:00 IEA released its monthly crude oil market report
⑨17:00 Eurozone's first quarter GDP annual rate correction value
⑩17:00 Eurozone's first quarter quarterly adjusted employment final value
17:00 Eurozone's March industrial production Monthly rate
20:30 Canadian March wholesale sales monthly rate
20:30 Number of people who requested unemployment benefits in the week from the United States to May 10
20:30 US April retail sales monthly rate
20:30 US April PPI annual rate and monthly rate
20:30 US May New York Fed Manufacturing Index
20:30 US May Philadelphia Fed Manufacturing Index
>20:40 Federal Reserve Chairman Powell delivered a speech at the meeting
21:15 US industrial output monthly rate in April
22:00 US May NAHB Real Estate Market Index
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