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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Decision Analysis]: This week, the Fed's bigwigs made a series of appearances, and gold hit a historical high." Hope it will be www.xm-bx.comful to you! The original content is as follows:
On September 22, gold traded above $3,700 on Monday, setting an all-time high based on the bullish trend of last week's closing. Investors will closely monitor www.xm-bx.comments from major central bank policymakers on Monday without high-impact data releases.
After a three-day rebound, the US dollar (USD) remained stable in early European trading on Monday, with the U.S. dollar index consolidating sideways above 97.50. The Fed's cautious tone for further easing of policy and optimistic data released by the U.S. in the second half of last week continue to www.xm-bx.com the dollar. Meanwhile, U.S. stock index futures opened about 0.2% in the European session, reflecting cautious market sentiment. Fed policymakers John Williams, Alberto Mousalem, Thomas Barkin, Beth Hamak and others will speak later that day.
Euro/USD consolidated the loss of land in the second half of the previous week, and fluctuated below 1.1750 in the early trading session on Monday. The European www.xm-bx.commission will release preliminary data on September consumer confidence index later that day.
The GBP/USD consolidated sideways below 1.3500 after a sharp decline on Thursday and Friday. UoBGroup analysts pointed out that when evaluating the Bank of England’s (BoE) policy announcement, “the Bank of England voted a 7-2 majority to keep the bank interest rate in September at 4.00%. They added: “Key policy guidance remains unchanged, with the central bank reiterating that further eliminating monetary policy restrictions still adopting a gradual and cautious attitude.
The US dollar/JPY was difficult to find direction on Monday, fluctuating around 148.00. As expected, the Bank of Japan (BoJ)The monetary policy setting remains unchanged after the September policy meeting. However, two policymakers unexpectedly voted in favor of rate hikes. "The most important thing for the yen is the hawkish vote split. We have been calling for a rate hike in October, and the votes of opponents have given us more confidence in this view," said Dutch International analysts.
Gold, benefiting from escalating geopolitical tensions, continued to rise after rising more than 1% on Friday. News of NATO troops intercepting three Russian MiG-31 fighter jets entering Estonian airspace has nervous investors. U.S. President Donald Trump expressed dissatisfaction with the invasion and said he would www.xm-bx.com defend EU member states if Russia intensified hostilities.
Euro: The intraday bias of the euro/dollar temporarily maintains a downward trend. The short-term top decline from 1.1917 should continue to fall to the 55-day moving average (currently 1.1657). Considering the bearish divergence of DEMA, a continuous breakthrough of 55DEMA will prove that 1.1917 is already the mid-term top. Next, you should see a deeper decline, reaching the 1.1390 support level. On the plus side, however, a small resistance above 1.1793 will remain bullish in the near term and retest the 1.1917 high.
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