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Hello everyone, today XM Forex will bring you "[XM Group]: The U.S. dollar index is slowly recovering, Trump will issue a single rule executive order on AI". Hope this helps you! The original content is as follows:
On December 9, in early Asian trading on Monday, Beijing time, the U.S. dollar index was hovering around 99.10. On Monday, expectations of a hawkish interest rate cut by the Federal Reserve pushed the U.S. dollar up, with the U.S. dollar index rising late in the session and finally closing up 0.13% at 99.11; the benchmark 10-year U.S. bond yield finally closed at 4.1670%, and the 2-year U.S. bond yield, which is sensitive to the Fed's policy interest rate, closed at 3.5810%. Affected by the strength of the U.S. dollar index in the U.S., spot gold fell back by $30 and finally closed down 0.15% at $4,190.68 per ounce; spot silver finally closed down by 0.25% at $58.15 per ounce. The market paid attention to India's purchase of Russian crude oil. The sharp drop in refined oil products dragged down international oil prices. WTI crude oil finally closed down 2.16% at US$58.83/barrel; Brent crude oil finally closed down 2.18% at US$62.45/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.10. The U.S. dollar index edged higher on Monday as traders attempted to regain the key level of the 50-day moving average of 99.169 - holding this position will provide stability to the dollar's short-term momentum in the week of the key Federal Reserve meeting. Dollar positions remain solid despite widespread expectations for a rate cut on Wednesday being priced in. Speculative traders have taken the largest long positions on the U.S. dollar since before the onslaught of Trump-era tariffs. Technically, if the US dollar index breaks above the 50-day moving average of 99.24, it will move towards the next resistance level, which is located in the 100.00 to 100.15 range.
On Monday, gold hovered around 4193.75. Although the Federal Reserve cut interest rates on Wednesday, people are worried that the Federal Reserve (Fed) will adopt a hawkish tone in its remarks. The market generally expects the Federal Reserve to cut interest rates by 25 basis points at its December meeting. At 9:00 p.m., traders see a 90% chance of a rate cut, up from about 66% in November, according to the CMEFedWatch tool. Traders will keep a close eye on press conferences and a summary of economic forecasts, known as the "dot plot," for new impetus. If the U.S. central bank implements "hawkish cuts," that could support the dollar and put pressure on dollar-denominated xmyktj.cnmodity prices.
On Monday’s Asian session, crude oil was trading around 58.68. Oil prices fell significantly by more than 2% on Monday, mainly affected by the resumption of production at Iraq's large oil fields and the market's continued focus on Ukraine peace negotiations. At the same time, investors are also weighing the possibility of progress in Ukraine negotiations, which could boost Russian oil exports if the conflict ends, putting downward pressure on the market. In addition, the Federal Reserve's upcoming policy meeting, where internal opinions may be divided, has also heightened market caution.
①11:30 The Reserve Bank of Australia announced the interest rate decision
②12:30 RBA Chairman Bullock held a press conference
③15:00 Germany’s October seasonally adjusted trade account
④19:00 The U.S. November NFIB small business confidence index
⑤23:00 U.S. JOLTs job vacancies in October
⑥The next day at 01:00 EIA releases the monthly short-term energy outlook report
⑦The next day 02:00 10-year Treasury bond auction from the United States to December 9 - winning bid rate
⑧ 02:00 the next day from the United States to December 9 10-year Treasury bond auction - bid multiple
⑨API crude oil inventories in the United States for the week to December 5 at 05:30 the next day
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