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Hello everyone, today XM Forex will bring you "[XM Forex Platform]: The Federal Reserve's decision to cut interest rates is imminent, and the U.S. dollar index remains near 98.90." Hope this helps you! The original content is as follows:
XM Foreign Exchange APP News - The U.S. dollar index (DXY) weakened slightly on Monday (October 28), but remained near 98.90, as traders awaited key macroeconomic catalysts, especially the Federal Reserve's two-day policy meeting starting on Tuesday. The U.S. Dollar Index continues to hold above the key support area of 98.797-98.714, however, any decline below this area could accelerate the decline towards the 50-day moving average of 98.128. On the upside, a break above 99.139 would signal renewed buying interest, with the potential for a retest of the monthly high of 99.563. According to the Chicago Mercantile Exchange's (CME) FedWatch tool, the market overwhelmingly expects the Fed to cut interest rates by 25 basis points, with nearly 97% of traders holding this view. However, the central bank's forward guidance and any jq.xmxmxm.cnments on balance sheet adjustments will be closely scrutinized. Before the decision was announced, U.S. Treasury yields edged higher, with the 10-year Treasury yield rising to 4.012% and the 2-year Treasury yield rising to 3.497%, reflecting a cautious repositioning of the market. Central Bank Week: European Central Bank and Bank of Japan take center stage While the Federal Reserve is the focus of U.S. markets, both the European Central Bank and the Bank of Japan are scheduled to announce interest rate decisions on Thursday. The European Central Bank is expected to keep interest rates unchanged, supported by last week's strong euro zone data, which pushed the euro against the dollar to $1.1628 and pushed the euro against the euro
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