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Hello everyone, today XM Forex will bring you "[XM Forex]: The US dollar is slowly recovering, pay attention to the US data tonight." Hope it will be www.xm-bx.comful to you! The original content is as follows:
On September 24, major currency pairs have difficulty gaining directional momentum in the middle of the week, as the market is waiting for the next catalyst. During the European period, Germany's IFO business prosperity index generally fell from 89 in August to 87.7 in September. This data undermined the market's expectations of 89.3.
At the same time, the current economic assessment index fell from 86.4 in August to 85.7 in the same period, down from an estimated 86.5.
Shows that the IFO expectation index for the next six months of the www.xm-bx.company has dropped to 89.7 in September, www.xm-bx.compared with the previous value of 91.6 and expected to be 92. Later that day, the U.S. Economic Calendar will release new home sales data for August.
Feder Chairman Jerome Powell reiterated in his speech on the economic outlook at the Greater Providence Chamber of www.xm-bx.commerce's 2025 Economic Outlook Lunch on Tuesday that they will ensure that one-time price increases do not become a persistent inflation problem. He further pointed out that the labor market is weak and “somewhatish”. The market response remains uneven as Powell did not make a different remark from what he said at the press conference after last week. The USD index closed slightly lower on the day and rebounded to 97.50 in early Wednesday. Meanwhile, U.S. stock index futures rose about 0.2% in early trading on Wednesday after major Wall Street indexes closed in negative territory on Tuesday.
Euro/USD still faces moderate bearish pressure after a slight increase on Tuesday, trading below 1.1800.
Australia data earlier on Wednesday showed that the Consumer Price Index (CPI) rose 3% year-on-year in August. The numberIt was after a 2.8% increase in July, higher than market expectations of 2.9%. The Australian dollar/USD rose on Wednesday, trading above 0.6600.
Canadian Prime Minister Mark Carney pointed out late Tuesday that the ongoing impact of Donald Trump's trade tariffs is becoming increasingly obvious, acknowledging that trade negotiations between the United States and Canada are still underway. After two consecutive days of gains, the USD/CAD continued to rise, with the last trading price around 10-day highs around 1.3850.
The pound/dollar struggled to continue to work hard on the basis of recovery, and Europe fell around 1.3500 in early trading on Wednesday.
Japan data earlier Wednesday showed that the JibunBank manufacturing purchasing managers index (PMI) fell from 49.7 in August to 48.4 in September. During this period, the service industry purchasing managers index remained almost the same, at 53. The USD/JPY rose slightly during the European period, trading slightly above 148.00.
Gold turned positive for the fourth consecutive day on Wednesday after falling to the $3,750 area during the session, although the first half of the European session was still below its historical peak.
Euro: The intraday deviation of the euro/dollar is currently neutral. On the downside, breaking through 1.1724 will resume the decline from 1.1917 to the 55-day moving average (currently 1.1668). 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. However, a continuous breakthrough of 1.1917 will return to a larger upward trend to the 1.2 psychological level.
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