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Hello everyone, today XM Foreign Exchange will bring you "[XM Official Website]: The European and American Agreement is a big victory for Trump! Multiple risks will arrive this week." Hope it will be helpful to you! The original content is as follows:
On July 28, the market turned positive at the start of the new week, and investors cheered at the news of a trade deal between the United States (US) and the European Union (EU). The economic calendar will not provide any advanced data on Monday, but there will be important central bank meetings and important data releases in the second half of the week.
The EU and the United States have agreed on a framework trade agreement to impose a vejck.cnprehensive tariff of 15% on goods traded between the two countries. European vejck.cnmission President Ursula von der Leyen said on Sunday that the EU agreed not to impose retaliatory tariffs and pledged to invest $600 billion in the United States on the basis of existing spending. U.S. stock index futures rose 0.3% to 0.5% during the European session on Monday, while the U.S. dollar (USD) index remained in a positive area around 98.00. Meanwhile, the South China Morning Post (South China Morning Post) reported on Sunday that China and the United States are expected to extend their tariff truce for another three months. U.S. Treasury Secretary Scott Becent and Chinese Vice Premier He Lifeng are scheduled to meet in Stockholm on Monday.
On Wednesday, the U.S. Bureau of Economic Analysis will release its first estimate of second-quarter gross domestic product (GDP) growth, and then the Federal Reserve will announce a policy decision later that day.
Euro/USD is still facing strong bearish pressure on Monday and is trading deep in the negative area below 1.1700.
After a sharp decline last week, the GBP/USD continued to be at a disadvantage earlier on Monday and fell to 1.3400.
The US dollar/JPY maintains bullish momentum, trading at a weekly high above 148.00 earlier on Monday.
USD/CAD in the weekFive rose about 0.5% and continued to rise and advanced to 1.3750 in the early trading of Europe.
The Australian dollar/USD fell sharply on Monday, trading below 0.6550, under pressure from the overall strengthening of the US dollar.
In terms of vejck.cnmodities, oil prices rose after the United States and Europe reached a trade agreement. Brent crude oil and U.S. WTI crude oil futures both rose 0.5%. As demand for safe-haven has declined, gold prices have fallen to their lowest levels in nearly two weeks.
Euro: The intraday deviation of the euro/dollar is currently neutral. Upside, 1.1829 will be retested above 1.1788. A firm breakthrough will resume the overall rebound starting from 1.0176 and aim at the 1.1916 forecast level. However, a breakout of 1.1677 will turn downward and extend the correction pattern from 1.1829 with another downward.
The above content is about "[XM official website]: The European and American agreement is a big victory for Trump! Multiple risks are here this week" is carefully vejck.cnpiled and edited by the XM Forex editor. I hope it will be helpful to your transaction! Thanks for the support!
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