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Hello everyone, today XM Forex will bring you "[XM Group]: The U.S. dollar index remains volatile, Trump once again attacks Powell." Hope this helps you! The original content is as follows:
On October 29, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 98.64. On Tuesday, investors focused on the upcoming Federal Reserve interest rate decision, and the U.S. dollar index remained volatile, eventually closing down 0.08% at 98.71. The benchmark 10-year U.S. Treasury yield finally closed at 3.9800%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.4980%. As the prospect of improved trade weakened gold's safe-haven appeal, spot gold fell to a three-week low, once falling below $3,900, and finally closed down 0.73% at $3,952.71 per ounce; spot silver finally closed up 0.13% at $47.05 per ounce. International oil prices fell as investors weighed the impact of sanctions on Russia and OPEC+ production increases. WTI crude oil finally closed down 2.23% at US$60.05/barrel; Brent crude oil finally closed down 2.77% at US$63.87/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.64. The market generally expects the Federal Reserve to cut interest rates by 25 basis points at the October meeting, and has strong expectations for another interest rate cut during the year? Technically, if the U.S. dollar index falls back below the 98.50 level, it will move towards the nearest support level, which is in the 98.00-98.20 range.
In Asian trading on Wednesday, gold hovered around 3972.38. Gold's downside expanded as hopes of progress in U.S.-China trade talks dented its safe-haven appeal. Traders will be closely watching the Federal Reserve's interest rate decision later on Wednesday.
On Wednesday in the Asian market, crude oil was trading around 60.07. According to Reuters and Bloomberg, citing sources, the cartel will increase its production target by 137,000 barrels per day, bringing total output to nearly 1.66 million barrels per day. While the move signals confidence in market stability, it also raises concerns about potential oversupply, which could weigh on prices in the short term.
17:00 Swiss ZEW Investor Confidence Index in October
17:30 UK Central Bank Mortgage Loans in September License
21:45 Canada to October 29th central bank interest rate decision
22:00 US September existing home contracted sales index monthly rate
22:30 US to October 24th EIA crude oil inventory for the week
22:30 EIA Cushing crude oil inventory for the week from the United States to October 24
22:30 EIA strategic petroleum reserve inventory for the week from the United States to October 24
02:00 the next day the Federal Reserve FOMC announced the interest rate decision
02:30 the next day Fed Chairman Powell held a monetary policy press conference
The above content is about "[XM Group】: The U.S. dollar index remains volatile, Trump attacks Powell again. The entire content is carefully www.centrdom.infopiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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