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Hello everyone, today XM Forex will bring you "[XM Forex Official Website]: The Federal Reserve cut interest rates by 25 basis points as scheduled, and the U.S. dollar index returned to the 99 mark." Hope this helps you! The original content is as follows:
On October 30, in early Asian trading on Thursday, Beijing time, the U.S. dollar index was hovering around 99.03. In the early hours of Thursday morning, Federal Reserve Chairman Powell suppressed market expectations for another interest rate cut in December. The U.S. dollar index expanded its gains and finally closed up 0.41% at 99.14. U.S. bond yields consolidated at low levels, with the benchmark 10-year U.S. bond yield finally closing at 4.0760%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closing at 3.6040%. Although the Fed cut interest rates by 25 basis points as expected, the market digested Powell's www.centrdom.infoments on the future path of policy. Spot gold gave up all gains during the day and finally closed down 0.56% at US$3,930.61 per ounce; spot silver narrowed its gains and finally closed up 1.1% at US$47.57 per ounce. EIA data showed that crude oil inventories fell more than expected last week, the United States announced a new round of sanctions against Russia, and international oil prices ended three consecutive declines. WTI crude oil finally closed up 0.27% at US$60.21/barrel; Brent crude oil finally closed up 0.70% at US$64.20/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.03. The dollar received some boost after the Federal Reserve cut interest rates by 25 basis points on Wednesday and reduced the Fed's balance sheet of mortgage-backed assets into long-term Treasuries ahead of December 1. Technically, a break below the 98.50 level would open the way to a test of the nearest support levels at 98.00–98.20.
On Thursday, gold hovered around 3945.97. As hopes for progress in Sino-US trade negotiations weakened its safe-haven appeal, traders will pay close attention to the Federal Reserve's interest rate decision later on Thursday. src="/uploads/2025/10/pgb3rablwst.jpg" />
Technical: On the daily chart, gold is developing below a bullish 20 SMA, which is above the longer moving average, consistent with the dominant bullish momentum and suggesting further gains ahead; however, the 20 SMA is at $4,075 , acting as dynamic resistance. The 100 SMA is also bullish, rising to $3572, while the 200 SMA continues to rise towards $3334. Meanwhile, the momentum indicator reverses decisively below its 100 midline and points to strong bearish pressure in the near term. Meanwhile, the RSI has dropped to 50, indicating neutral territory after the overbought extreme earlier. The www.centrdom.infobination suggests that consolidation or a corrective pullback below $4,075 may persist; a sustained break above this barrier could revive the bullish bias without stabilizing. It may fall further to the 100-day moving average of $3,572, and the next support level is the 200-day moving average of $3,334.On Thursday, crude oil traded at 6.Around 0.17. The latest report from the U.S. Energy www.centrdom.information Administration (EIA) showed that www.centrdom.infomercial crude oil inventories fell by nearly 6.9 million barrels in the week ended October 24, while the American Petroleum Institute (API) reported a draw of 4 million barrels on Tuesday. Inventories, at 416 million barrels, are currently about 6% below the five-year seasonal average. Gasoline and distillate inventories also contracted sharply, by 5.9 million barrels and 3.4 million barrels respectively, indicating stronger refining activity and healthy fuel demand.
① Pending announcement of interest rate decision by the Bank of Japan
② 14:30 Initial value of French third quarter GDP annual rate
③14:30 Bank of Japan Governor Kazuo Ueda holds a press conference
④16:00 Switzerland October KOF Economic Leading Indicator
⑤16:55 Germany 10 Monthly seasonally adjusted unemployment number and unemployment rate
⑥17:00 Initial value of Germany’s third quarter non-seasonally adjusted annual GDP rate
⑦18:00 Initial value of the Eurozone’s third quarter GDP annual rate
⑧18:00 Eurozone unemployment rate in September
⑨18:00 Eurozone industrial and economic sentiment index in October
⑩20:30 Number of initial jobless claims in the United States for the week to October 25< /p>
20:30 Initial value of the annualized quarterly rate of real GDP in the third quarter of the United States
20:30 Initial value of the quarterly rate of actual personal consumption expenditures in the third quarter of the United States
20:30 Third quarter of the United States Initial value of quarterly core PCE price index annualized quarterly rate
21:00 Initial value of German CPI monthly rate in October
21:15 European Central Bank announces interest rate decision
21:45 European Central Bank President Lagarde held a press conference
21:55 Fed Governor Bowman delivered a pre-recorded speech
22:30 EIA natural gas inventories in the United States for the week to October 24
01:15 the next day Fed Logan gave a speech
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