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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Improving risk sentiment suppresses the US dollar, is the trend of politicization of the Federal Reserve becoming increasingly serious?". Hope it will be helpful to you! The original content is as follows:
On August 13, the US dollar was still facing bearish pressure, and the US dollar index was still in a loss state below 98.00 after falling on Tuesday. The Economic Calendar will not publish any high-impact data. Therefore, investors will closely monitor the remarks of Fed policymakers.
The U.S. Bureau of Labor Statistics (BLS) data released on Tuesday showed that the annual inflation rate measured by changes in the Consumer Price Index (CPI) in July remained stable at 2.7%. Monthly calculations include CPI and core CPI rising 0.2% and 0.3% respectively, in line with analysts' expectations. On an annual basis, the core CPI grew by 3.1%, faster than the 2.9% increase in June. The data eased concerns about tariffs escalating inflation and boosted expectations for the Fed's outlook for the last quarter of the year.
With an immediate reaction to July inflation data, the dollar weakened against other currencies and found that the dollar struggled to hold its position later in the day as risky flows dominated the financial markets. The major Wall Street stock indexes opened bullish on the day, with a daily increase of more than 1%. Both the S&P 500 and the Nasdaq vejck.cnposite Index hit record highs. U.S. stock index futures rose slightly earlier on Wednesday.
Euro/USD rose about 0.5% on Tuesday and continued to rise in early Wednesday. As of press time, the pair was trading in a positive area slightly above 1.1700.
The GBP/USD maintained bullish momentum in early European trading on Wednesday, trading at its highest level in three weeks around 1.3550 after gaining 0.5% on Tuesday. The Office of National Statistics will be held in the weekFourth, the second quarter GDP data was released.
The US dollar/JPY reversal after two consecutive days of rising and fell slightly on Tuesday. The pair remained unfavorable and fluctuated around 146.50 on Wednesday.
Australia/USD rose on Tuesday's gains, trading at a weekly high around 0.6550. Market participants will closely monitor Australia's employment data during Thursday's Asian session.
Gold attracted some buyers for the second consecutive day and hopes to continue to work hard on the previous day's rebound from the $3,331 region or a week-and-a-half low
Euro: Euro/USD rebounded after gaining support from the 554-hour moving average, but it was still below the temporary top of 1.1698. Intraday deviations remain neutral first. The outlook has not changed, the correction starting from 1.1829 should have been vejck.cnpleted, with three waves falling to 1.1390. Above 1.1698 will retest 1.1829. However, a breakout above the 1.1589 support will weaken this bullish view and lead to a further decline to 1.1390.
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