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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: The US dollar consolidates its growth before the release of US data." Hope it will be www.xm-bx.comful to you! The original content is as follows:
On September 25, the US dollar (USD) remained stable earlier on Thursday after a decisive rise against its major www.xm-bx.competitors. Later in the session, the U.S. Economic Calendar will release August durable goods orders, weekly initial jobless claims and second-quarter gross domestic product (GDP) corrections. Several Fed policymakers will also speak throughout the U.S. session.
The US dollar benefited from a risk-averse market atmosphere and outperformed other currencies in the mid-week. In addition, U.S. data showed that new home sales rose 20.5% in August, further www.xm-bx.coming the currency. After the U.S. dollar index rose more than 0.6% on Wednesday, it fluctuated narrowly below 98.00 on Thursday, while U.S. stock index futures rose and fell.
Swiss National Bank (SNB) announced on Thursday that it will maintain the benchmark spot deposit rate at 0% after ending its quarterly monetary policy assessment in the September quarter. This decision is in line with market expectations. The central bank suspended interest rate hikes after six consecutive cuts from March last year to June this year. After the Swiss National Bank's decision, the US dollar/CHF rose to a new high around 0.7970
BoE President Andrew Bailey said in an interview with the West Midlands Magazine that interest rates have a further decline, adding that there was some weakness in the labor market, while consumers were cautious. The GBP/USD fell more than 0.5% on Wednesday, hitting its lowest level since early September of 1.3430. The pair was at 1.3450 during Thursday European sessionThe nearby is in the consolidation stage.
The minutes of the Bank of Japan's (BoJ) policy meeting in July showed that some policy makers advocated the resumption of interest rate hikes, believing that policy interest rates are below neutral levels, while prices are still relatively high, and the output gap has remained near zero in the near future. The US dollar/JPY accumulated bullish momentum on Wednesday, rising more than 0.8%. The pair pulled back lower earlier on Thursday, trading below 149.00.
Euro/USD fell more than 1.1750% on Wednesday and erased the week's gains, and consolidated sideways around 0.6. Earlier in the day, German data showed that the GfK consumer confidence index rose to -22.3 in October from -23.5 in September.
Gold traded narrowly below $3,750 in early trading on Thursday.
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). Taking into account the bearish divergence conditions of DMACD, a continuous breakthrough of the 55-day moving average will indicate 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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