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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The Federal Reserve's position suppresses easing expectations, and the US dollar index's rise continues." Hope it will be www.xm-bx.comful to you! The original content is as follows:
XM Forex APP News-On Wednesday (September 24), the US dollar index (DXY) rose sharply, up 0.52% to 97.745, approaching the key resistance range - the 50-day moving average (98.029) and the 50% retracement level (98.238). Before the US dollar index breaks through the two "double top patterns" of 98.635 and 98.834, the above two technical indicators will be the main resistance it faces in the short term. The near-term www.xm-bx.com level is expected to be 97.199. Fed's stance limits downside space for dollar bulls Fed Chairman Powell reiterated his cautious stance on further interest rate cuts, saying policymakers remain concerned about inflation despite weak labor markets. After this statement, the US dollar resumed its uptrend. Although the market is still "digesting" expectations of two more interest rate cuts (25 basis points each) before the end of the year, Powell's remarks have significantly suppressed the "double expectations". He warned that premature easing could re-ignite inflationary pressures, while excessive tightening could hurt employment—a statement that highlights the Fed’s “data-dependent” policy path. Powell's views are consistent with the Fed's previous statement, weakening the market's expectations for "the Fed's sharp turn to a loose policy." Meanwhile, the upcoming U.S. economic data (especially on Friday’s PCE price index data) is expected to be a key factor in determining the trend of the U.S. dollar index. Francisco Pessole, strategist at the Netherlands International Group (ING), pointed out that if the monthly increase of the data is lower than expected by 0.2%, it may further consolidate the market's expectations for "continue interest rate cuts." German data is weak and the euro weakens, www.xm-bx.coming the U.S. dollar index. Ifo's business prosperity index is lower than expected (down from 88.9 to 87.7). Affected by this, the euroIt fell 0.5% against the US dollar to 1.1751. This weak data has exacerbated market concerns about a weak euro zone economy and pushed up investors' demand for the US dollar, a "safe-haven asset."
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