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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The US dollar index continues to fall, and gold breaks through 3680". Hope it will be helpful to you! The original content is as follows:
On September 16, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered at 97.37. On Monday, traders were preparing for the Fed's rate cut this week and looking for clues to further rate cuts this year. The U.S. dollar index continued to fall during the day and eventually closed down 0.28% at 97.34. The benchmark 10-year U.S. Treasury yield closed at 4.0440%, while the 2-year U.S. Treasury yield closed at 3.5450%. Spot gold rose above $3,680 for the first time, setting a new record high, and finally closed up 0.98% to close at $3,678.89/oz; spot silver finally closed up 1.21% to $42.67/oz. Oil prices closed higher on Monday as Ukraine stepped up its crackdown on Russia's oil infrastructure. WTI crude oil finally closed up 1.09% at $63.27 per barrel; Brent crude oil finally closed up 0.91% at $67.48 per barrel.
Dollar Index: As of press time, the US dollar hovers around 97.37. The immediate pressure in the U.S. bond market is reshaping the U.S. dollar path through policy expectations and external risks. Although the double squeeze between tax period and auction is a short-term phenomenon, coupled with the long closing of positions before the FOMC meeting on Wednesday, the overnight funds have been pushed to the corridor ceiling. This liquidity tightening is similar to the "pre-support" effect, supporting the strengthening of the US dollar in the short term, but it is also anchored by interest rate cuts and pricing. Technically, the successful testing of the 97.10–97.30 support level will open the way to test the next support level (located in the 96.40–96.55 range).
On Tuesday, gold hovered around 3685.33. This trading day will release the monthly retail sales rate in the United States in August, www.vifu.netmonly known as "terrorist data", which needs to be paid attention to. Looking around the world, interest rate decisions will also be held this week by the Bank of Japan, the Bank of England, the Bank of Canada and the Bank of Norway. Although the UK and Japan are expected to keep interest rates unchanged, analysts will closely monitor the Bank of England's plans to slow down its government bonds and the Bank of Japan's speeches, which may reveal clues about interest rate hikes for the rest of the year. Fitch lowered its sovereign credit rating to AA- on Friday due to the increased debt burden, but the euro was basically unaffected. NickRees, head of macro research at MonexEurope, believes the news has been digested in advance by the market. The "collective appearances" of this series of central bank meetings will provide gold with more uncertainty premiums, driving its attractiveness as a safe-haven asset.
On Tuesday, crude oil trading around 63.06. This trading day will release the monthly retail sales rate in the United States in August, www.vifu.netmonly known as "terrorist data", which needs to be paid attention to. Looking around the world, interest rate decisions will also be held this week by the Bank of Japan, the Bank of England, the Bank of Canada and the Bank of Norway. Although the UK and Japan are expected to keep interest rates unchanged, analysts will closely monitor the Bank of England's plans to slow down its government bonds and the Bank of Japan's speeches, which may reveal clues about interest rate hikes for the rest of the year.
17:00 Eurozone September ZEW Economic Prosperity Index
17:00 Eurozone July Industrial Output Monthly Rate
20:30 Canadian August CPI Monthly Rate
20:30 US August Retail Sales Monthly Rate
20:30 US August Import Price Index Monthly Rate
21:15 US August Industrial Monthly rate of industrial output
22:00 US September NAHB Real Estate Market Index
22:00 US July www.vifu.netmercial inventory monthly rate
The next day 04:30 US to September 12th the week API crude oil inventory
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