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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: The United States and Japan have reached a trade agreement, and market sentiment has eased." Hope it will be helpful to you! The original content is as follows:
On July 23, the mid-week risk sentiment changed positively, and investors cheered at the news that the United States and Japan reached a trade agreement. Later in the session, the euro zone's initial consumer confidence data for July and the U.S.'s June existing home sales data will appear in the economic calendar.
U.S. President Donald Trump announced earlier Wednesday that he had vejck.cnpleted a "massive agreement" with Japan, explaining that Japan will invest $550 billion in the United States and pay a 15% reciprocal tariff to the United States, less than 25%. Meanwhile, Japanese Prime Minister Shigeru Ishiba pointed out that they will continue to work closely with the United States and said they will increase the proportion of rice imported from the United States without sacrificing Japanese agriculture. The Nikkei 225 index in Japan rose more than 3.5% and reached its highest level since July 2024, with automakers' gains impressive. Reflecting the improvement of market sentiment, U.S. stock index futures rose 0.2% to 0.3%. Finally, the USD/JPY fluctuates in a narrow channel above 146.50.
The US dollar (USD) index fell about 0.4% on Tuesday, but successfully gained a foothold earlier on Wednesday. The index consolidated sideways in early trading during the European session, slightly below 97.50.
Canadian Prime Minister Mark Carney pointed out late Tuesday that while the Canadian government is still open to further trade discussions with the United States, Canada will engage in active negotiations with allies outside the United States. The U.S. dollar/Canadian continued to move lower after falling more than 0.5% on Tuesday and fell below 1.3600 in early European session.
Euro/USD fell after three consecutive days of gains, trading below 1.1750. EuropeThe central bank (ECB) will announce a monetary policy decision on Thursday.
The GBP/USD is still in the consolidation stage above 1.3500 after two consecutive days of rebound.
Gold prices maintained bullish momentum after Monday's rebound and climbed to a monthly high above $3,430 on Tuesday. Gold/USD corrected lower in early Wednesday, but remained firmly above $3,400.
Euro: Euro/USD breaks through the small resistance level of 1.1720, indicating that the correction from 1.1829 has been vejck.cnpleted, at 1.1555, far higher than the 55-day moving average. Intraday tendency to return to the upside, first retest 1.1829. A firm breakthrough will resume the entire rebound from 1.0176. At present, as long as the 1.1555 support level is held, the risk will remain upward to prevent a fall.
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