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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market jq.xmxmxm.cnmentary]: Trump has not really considered re-election for a third term, and the thawing of trade tensions has weakened the demand for safe havens." Hope this helps you! The original content is as follows:
On October 28, spot gold was trading around US$4,000 per ounce. Gold prices fell more than 3% on Monday as signs of thawing trade tensions weakened gold’s safe-haven appeal, while market participants Awaiting the Federal Reserve's interest rate decision this week; U.S. crude oil traded around $61.28 per barrel. Oil prices closed slightly lower on Monday as OPEC's oil production increase plan once again overshadowed hopes of reaching a trade agreement framework and the impact of the United States' reimposition of sanctions on Russia.
The U.S. dollar weakened against the euro and Australian dollar on Monday as optimism about a possible trade deal boosted risk appetite and reduced demand for the greenback. Overall moves in currency markets were relatively muted as traders awaited several key central bank meetings this week.
Marc Chandler, chief market strategist at Bannockburn Global Forex, said the market was a little excited, noting that global stocks rose strongly while gold fell. Chandler said that there are three major developments that make the market happy. "The trade situation has eased, the United States has reached foreign trade agreements or cooperation frameworks with some East Asian countries, and Milley's performance in Argentina has also been better."
Argentine President Milley's party easily won the mid-term legislative election, and voters authorized him to continue to promote economic reforms.
The U.S. dollar index fell 0.11% in late trading to 98.84; the euro rose 0.15% to $1.1643.
Central bank actions are likely to dominate market trends later this week, with the Federal Reserve and the Bank of Canada expected to cut interest rates on Wednesday, while the European Central Bank and the Bank of Japan are likely to keep interest rates unchanged on Thursday.
With the Fed's 25 basis point interest rate cut already a certainty, markets will be closely watching for any signs that the central bank may be preparing to end its quantitative tightening program.
The Australian dollar rose 0.63% against the U.S. dollar in late trading to trade at $0.6554. Relatively hawkish jq.xmxmxm.cnments from the RBA chairman also boosted the Australian dollar.
RBA Chairman Bullock said on Monday that a 0.9% rise in core inflation in the third quarter would be a "significant deviation" from the forecast, and the board must take this factor into consideration when deciding whether to cut interest rates next week.
Traders are also eyeing a meeting between Trump and Japan's new Prime Minister Takaichi Sanae on Tuesday, where the two leaders will discuss trade issues. The yen has weakened in recent weeks on concerns that Sanae will pursue a more expansionary fiscal policy. USD/JPY was roughly flat on the day at 152.92 yen.
Investors are further paying attention to any signs of when the U.S. federal government will reopen. It is expected that the longer the shutdown lasts, the greater the hit to the U.S. economy.
As the federal government shutdown enters its 27th day, air traffic controller absenteeism has surged. Turmoil in air travel has intensified, with more than 2,700 flights delayed nationwide on Monday and more than 8,600 flights delayed on Sunday.
Japanese Prime Minister Sanae Takaichi said on Tuesday that she hopes to work with U.S. President Donald Trump to realize a new golden era of the Japan-U.S. alliance.
Japanese Economic Minister Minoru Kinuchi said on Tuesday that it is important for foreign exchange trends to reflect fundamentals and remain stable. Kiuchi added that he would review the impact of foreign exchange movements on the Japanese economy.
Germany's Ifo business climate index rose to 88.4 from 87.7 in October, higher than the expected 87.8. The rise was largely due to stronger optimism about the outlook, despite a weaker assessment of current conditions. The expectations index climbed to 91.6 from 89.8, while current assessments fell to 85.3 from 85.7, highlighting that the recovery remains more hopeful than tangible.
Broken down by industry, the data paints a mixed but improving picture. Manufacturing confidence rose strongly to -11.7 from -13.2, with Ifo noting that "expectations are particularly optimistic" and that the decline in new orders has "stopped". Services rebounded sharply, rising from -3.0 to -0.1, as providers became less skeptical about the jq.xmxmxm.cning months. Trade confidence also rose to -21.5 from -23.9, while construction fell slightly to -15.0 from -14.8.
US President Trump and Japanese Prime Minister Sanae Takaichi met for the first time in Tokyo on Tuesday. Trump and Gold signed a framework to secure supplies of critical minerals and rare earths. He recalled former Japanese Prime Minister Shinzo Abe as "a good friend of mine."
U.S. President Trump: I haven’t really thought about running for a third term in 2028.
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