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Hello everyone, today XM Forex will bring you "[XM Forex official website]: The U.S. dollar index fluctuates downward, and Trump has not really considered re-election for a third term." Hope this helps you! The original content is as follows:
On October 28, in early Asian trading on Tuesday, Beijing time, the U.S. dollar index was hovering around 98.70. On Monday, the U.S. dollar index fluctuated downwards and finally closed slightly down 0.13% to 98.81. The benchmark 10-year U.S. Treasury yield closed at 3.9790%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.4990%. The latest developments in the global trade conflict have cooled the demand for safe havens. Spot gold fell nearly 3%, falling below the US$3,990/ounce mark, falling more than US$100 during the day, and finally closed down 3.17%, at US$3,981.74/ounce; spot silver finally closed down 3.54%, at US$46.89/ounce. OPEC+ tends to slightly increase oil production in December again, and international oil prices closed lower. WTI crude oil finally closed down 0.15% at US$61.37/barrel; Brent crude oil finally closed down 0.96% at US$65.17/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.70. Traders are 97% expecting the Fed to cut interest rates by ?25 basis points at its next meeting, as revealed by the PrimeMarket Terminal Rate Probability Tool. Technically, if the US dollar index closes below the 50MA at 98.83, it will move towards the nearest support level, which is located in the 98.00–98.20 range.
In the Asian market on Tuesday, gold hovered around 3999.66. The precious metal attracted some sellers after the United States and China agreed on the framework of a trade deal. Traders braced for the Federal Reserve's (Fed) interest rate decision later on Wednesday. Attention will shift to Thursday's meeting between U.S. President Donald Trump and Chinese leader Xi Jinping.
On Tuesday in the Asian market, crude oil was trading around 60.97. Iraq's oil minister reported that crude oil exports hit a record high in September, exceeding 102 million barrels, and announced negotiations with OPEC on the size of the quota. U.S. benchmark West Texas Intermediate crude has hit a session low just under $61.00 but held on to most of last week's gains on hopes that a meeting between Trump and Xi will extend the trade truce between the world's two major economies.
①15:00 German Gfk Consumer Confidence Index in November
②21:00 U.S. August FHFA house price index monthly rate
③21:00 S&P/CS non-seasonally adjusted house price index annual rate in 20 major cities in the United States in August
④22:00 U.S. Conference Board Consumer Confidence in October Index
⑤22:00 US October Richmond Fed Manufacturing Index
⑥04:30 US API crude oil inventory for the week to October 24th the next day
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