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Hello everyone, today XM Forex will bring you "【XM Group】: The US dollar index is still weak, and gold stops rising three times!". Hope it will be helpful to you! The original content is as follows:
On July 24, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 97.21. Risk aversion cooled down on Wednesday as the United States reached an agreement with more trading partners. The dollar index remained weak and finally closed down 0.16% at 97.162. The yield on the US Treasury rebounded across the board, with the benchmark 10-year US Treasury closing at 4.388%, and the 2-year US Treasury closing at 3.886%. Spot gold rose for three consecutive days and then fell sharply after it was reported that Europe and the United States were close to reaching an agreement. It was once close to the $3380 mark and finally closed down 1.29%, closing at $3387.23/ounce; spot silver remained stable above the $39 mark and finally closed down 0.07%, at $39.27/ounce. International oil prices are close to flat as progress in trade negotiations eases concerns about oil market demand. WTI crude oil fluctuated sideways near the $65 mark and finally closed down 0.18% to $65.22 per barrel; Brent crude oil closed flat at $68.06 per barrel.
Dollar Index: As of press time, the US dollar index hovered at US$97.21. The market's concerns about the independence of the Federal Reserve are still fermenting, and the US president's criticism of Federal Reserve Chairman Powell has once again heated up, making it difficult for the US dollar to get rid of suppression in the short term and the trend is still weak. Technically, if the US dollar index closes below the 97.30 level, it will move towards the support level of 96.70-96.90.
On Thursday, gold hovered around 3391.74. The gold market experienced a "roller coaster" on Wednesday. Gold prices rose to a five-week high of $3,438 per ounce in the early trading of the Asian market, but then fell rapidly, with a single-day decline of more than 1%, and finally closed at $3,386.99 per ounce, down more than $50 from the intraday high. Behind this violent fluctuation is the resonance of multiple factors such as the progress of the US-EU tariff agreement, the recovery of risky assets, and the uncertainty of the Federal Reserve's policy. This trading day will usher in PMI data in July, changes in the number of initial unemployment claims in the United States, annualized total number of new home sales in the United States in June, and the European Central Bank interest rate resolution, investors need to pay attention.
On Thursday, crude oil trading around 65.29. U.S. President Donald Trump announced a trade deal with Japan and the Philippines that has driven the rise in black gold. On Wednesday, EU officials said they were reaching a trade deal with the United States that would result in a broad 15% tariff on EU goods imported into the United States, avoiding a higher 30% tariff from August 1.
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15:15French July Manufacturing PMI Initial Value
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