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Hello everyone, today XM Forex will bring you "[XM Forex official website]: The U.S. dollar index rises, silver breaks through 60 US dollars and continues to hit new highs." Hope this helps you! The original content is as follows:
On December 10, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 99.20. On Tuesday, U.S. job market data was better than expected, and the U.S. dollar index rose, finally closing up 0.14% at 99.24; the benchmark 10-year U.S. bond yield finally closed at 4.1900%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.6250%. Traders remained optimistic about the Federal Reserve's interest rate cut. Spot gold fluctuated upwards and finally closed up 0.39% at US$4,206.59 per ounce. Spot silver reached the US$60 milestone for the first time amid tight supply, and finally rose by 4.34% to US$60.67 per ounce. Affected by the resumption of production in Iraq, international oil prices fell for two consecutive days. WTI crude oil finally closed down 0.78% at US$58.28/barrel; Brent crude oil finally closed down 0.67% at US$62.10/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.20. Because traders avoid placing large positions before the Fed's decision is announced. xmyktj.cnmerzbank pointed out that market participants have not yet made significant adjustments to the exchange rate, which makes the trend of the U.S. dollar index mainly driven by U.S. interest rate levels and market expectations, rather than by general selling pressure on non-U.S. currencies. 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 Wednesday, gold hovered around 4208.95. Despite strong U.S. employment data, gold prices still climbed strongly. Analysts pointed out that the expectation of the Federal Reserve’s interest rate cut and the surge in silver prices provided rising momentum for gold prices.
On Wednesday, crude oil was trading around 58.23.Falling on Tuesday, crude oil markets began to slide after an announcement to resume output from Iraq's West Qurna 2 oil field, a development that increased short-term supply and put pressure on oil prices.
①09:30 China’s November CPI annual rate
②18:45 Bank of England Governor Bailey delivers a speech
③21:30 United States third quarter Labor cost index quarterly rate
④22:45 Canada to the central bank interest rate decision on December 10
⑤23:30 United States to EIA crude oil inventory for the week of December 5
⑥23:30 United States to EIA for the week of December 5 Cushing crude oil inventories
⑦23:30 EIA Strategic Petroleum Reserve inventories in the United States for the week to December 5
⑧At 03:00 the next day, the Federal Reserve FOMC announced the interest rate resolution and summary of economic expectations
⑨03:30 the next day: the Federal Reserve Chairman Chairman Powell held a monetary policy press conference
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