Wonderful Introduction:
I missed more in life than not, and everyone has missed countless times. So we don’t have to apologize for our misses, we should be happy for our own possession. Missing beauty, you have health: Missing health, you have wisdom; missing wisdom, you have kindness; missing kindness, you have wealth; missing wealth, you have www.wzhdjgj.comfort; missing www.wzhdjgj.comfort, you have freedom; missing freedom, you have personality...
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: The US dollar is hovering below 98, waiting for Powell to speak the next day." Hope it will be helpful to you! The original content is as follows:
Finance markets remained relatively calm earlier on Wednesday after fluctuations. In the second half of the day, new home sales data for May will appear in the US economic calendar. In addition, Fed Chairman Jerome Powell will speak before the Senate Banking www.wzhdjgj.committee the day after his testimony.
News that Iran and Israel accepted the ceasefire triggered a risk rebound on Tuesday and caused the US dollar (USD) to weaken. During the U.S. trading session, Chairman Powell's remarks helped the dollar limit losses. Powell reiterated that they are not in a hurry to lower policy rates, adding that they need more time to confirm that inflationary pressures caused by tariffs will continue to be contained. After a slight decline in the day's closing, the U.S. dollar index fluctuated narrowly around 98.00 in early trading on Wednesday.
Meanwhile, U.S. stock index futures trading has barely changed after major Wall Street indexes took advantage of strong gains in risk flows on Tuesday.
Euro/USD rose only about 0.3% on Tuesday as it lost its bullish momentum in the second half of the day. The pair is still in the consolidation phase and consolidated sideways around 1.1600 in early Wednesday.
The pound/dollar continued its rally, hitting its highest level in more than three years around 1.3650 on Tuesday. The pair stabilized above 1.3600 in early European trading on Wednesday after a brief technical correction. Bank of England testified on Tuesday when the House of Lords Economic Affairs www.wzhdjgj.committeeBoE President Andrew Bailey pointed out that they are beginning to see weak labor markets.
The US dollar/yen fell to 144.50 on Tuesday, down nearly 1%. The pair rebounded on Wednesday and traded above 145.00.
The USD/Canada fell below 1.3700 on Tuesday, but managed to recover from its daily lows and closed basically flat. The pair consolidated sideways around 1.3730 during the European period. Statistics Canada reported on Tuesday that its inflation rate in May remained unchanged at 1.7% year-on-year, as measured by changes in the Consumer Price Index (CPI).
Gold prices struggled to take advantage of a slight intraday gain on Wednesday, although it managed to easily stay above the $3,300 mark and hit a two-week low hit the previous day.
Euro: Euro/USD breaks through the 1.1630 resistance level, indicating that the rise from 1.0176 is recovering. The intraday deviation rose again, predicting 1.0176 to 1.1572 from 1.1064 to 1.1927, at 61.8%. As long as the 1.1452 support level is held, the outlook will remain bullish in case of a fall.
The above content is all about "[XM Forex Market Review]: The US dollar is hovering below 98, waiting for Powell to speak the next day" and is carefully www.wzhdjgj.compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
Due to the author's limited ability and time constraints, some content in the article still needs to be discussed and studied in depth. Therefore, in the future, the author will conduct extended research and discussion on the following issues: