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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: The U.S. dollar index remains volatile, and the U.S. government shutdown may end this week." Hope this helps you! The original content is as follows:
On October 21, in early Asian trading on Tuesday, Beijing time, the U.S. dollar index was hovering around 98.51. On Monday, the U.S. dollar index maintained a volatile pattern and finally closed slightly up 0.06% at 98.60. The benchmark 10-year U.S. Treasury yield closed at 3.9850%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.4640%. Boosted by expectations that the Federal Reserve will further cut interest rates and continued demand for safe havens, spot gold broke through last Friday's record high, hitting $4,381.4 per ounce, and finally closed up 2.46% at $4,355.67 per ounce; spot silver finally closed up 1.01% at $52.39 per ounce. Oil prices closed at their lowest level since early May on Monday as investors worried about the possibility of a global supply glut. WTI crude oil finally closed down 0.56% at US$56.92/barrel; Brent crude oil finally closed down 0.62% at US$60.95/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.51. The dollar has struggled all week as investors sought refuge in the Swiss franc and Japanese yen after President Trump renewed his threat to impose 100% tariffs on Chinese goods. Technically, the nearest resistance level for the U.S. dollar index is in the 98.85–99.00 range. A break above the 99.00 level would open the way to a test of the next resistance levels at 100.00–100.15.
In the Asian market on Tuesday, gold hovered around 4370.88. Traders continue to assess developments surrounding the U.S. government shutdown, the prospect of further interest rate cuts from the Federal Reserve and the re-emergence of U.S. credit risks. The continued shutdown of the U.S. federal government may increase safe-haven capital flows and support gold prices. The government shutdown has entered its 21st day with no end in sight after senators failed to resolve a voting impasse for the 11th time on Monday. The shutdown is now the third-longest funding blunder in modern history.
On Tuesday in the Asian session, crude oil was trading around 56.88. International oil prices closed at their lowest level since early May as investors worried about a potential global crude oil supply glut, while Sino-U.S. trade tensions heightened concerns about an economic slowdown and weak energy demand.
① To be determined, the APEC Finance Ministers’ meeting will be held
② To be determined, Japan will hold a Prime Minister’s nomination election
③ To be determined, U.S. President Trump will announce the Colombia implements major tariff measures
④14:00 Switzerland September trade balance
⑤14:00 UK September public sector www.vifu.net borrowing
⑥20:30 Canada September CPI monthly rate
⑦21: 00 The Federal Reserve held a payment innovation meeting
⑧The November crude oil futures in New York www.vifu.netpleted the final transaction on the floor at 02:30 the next day
⑨API crude oil inventories in the United States for the week to October 17 at 04:30 the next day
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