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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: The US dollar index rose slightly, and Trump clarified that the gold tariffs were "behind". Hope it will be helpful to you! The original content is as follows:
On August 12, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered around 98.50. On Monday, the US dollar index rose slightly and once rose to an intraday high of 98.65 during the US session, and finally closed up 0.23% to 98.46; US Treasury yields rose slightly, with the benchmark 10-year US Treasury yield closing at 4.289%, and the 2-year US Treasury yield closing at 3.783%. As US President Trump said he would not impose tariffs on imported gold bars, spot gold fell nearly $60 during the day and fell to around the $3,340 mark, and finally closed down 1.61% to $3,342.73/ounce; spot silver closed down 1.85% to $37.60/ounce. As investors are waiting for this week's Trump-Putin meeting, crude oil has stabilized, ending the daily 7 consecutive declines. WTI crude oil fell first and then rose, and then fluctuated around $63, and finally closed up 0.96% at $63.28/barrel; Brent crude oil finally closed up 0.84% at $66.26/barrel.
Dollar Index: As of press time, the US dollar index hovered at US$98.50. The dollar faces challenges as weak U.S. economic data prompts traders to digest the possibility of further rate cuts this year. The rise in the U.S. initial jobless claims and the decline in non-farm employment in July have boosted expectations of the Federal Reserve's interest rate cut next month, which could cut again in December. According to the CMEFedWatch tool, the market currently expects the possibility of the Fed cutting interest rates at its September meeting at about 89%, up from 80% a week ago. Technically, if the US dollar index climbs to 50 per centAbove line 98.82, it will go to resistance level 99.20–99.40.
On Tuesday, gold hovered around 3355.16. Gold demand has been hit by speculation that Ukraine's meeting with Russian President Donald Trump could unveil Ukraine's armistice plan. The decline in U.S. Treasury yields led to a rebound in the U.S. dollar, causing gold to fall below the $3,400 mark.
On Tuesday, crude oil trading around 63.41. The WTI recovered some lost ground as Russia ignored the deadline for the U.S. to end the war with Ukraine. Oil traders are ready for the American Petroleum Association (API) crude oil inventories report later on Tuesday. Potential U.S.-Russia meeting in Alaska will be closely watched on Friday.
①To be determined Domestic refined oil has opened a new round of price adjustment window
②To be determined OPEC releases monthly crude oil market report
③12:30 RBA announced interest rate resolution
④13:30 RBA Chairman Brock held a press conference
⑤14:00 UK6 Three months of ILO unemployment rate
⑥14:00UK July unemployment rate
⑦14:00UK July unemployment claim
⑧17:00German August ZEW Economic Prosperity Index
⑨17:00Eurozone August ZEW Economic Prosperity Index
⑩18:00UK July NFIB Small Business Confidence Index
< p>20:30 The United States has not adjusted the annual rate of the seasonal CPI in July20:30 The United States has not adjusted the annual rate of the seasonal CPI in July
20:30 The United States has not adjusted the annual rate of the seasonal CPI in July
20:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:00 The Federal Reserve Barkin delivered a speech
22:30 The Federal Reserve Schmid delivered a speech
22:30 The Federal Reserve Schmid delivered a speech
22:30 The Federal Reserve Schmid delivered a speech
22:30 The Federal Reserve Schmid delivered a speech
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate of the seasonal CPI in July
22:30 The United States has not adjusted the annual rate p>
EIA released its monthly short-term energy outlook report at 00:00 the next day
EIA announced its monthly short-term energy outlook report at 04:30 the next day at the U.S. to August 8
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