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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: The U.S. government is about to close! New tariffs are approaching, and the US dollar is falling." Hope it will be www.xm-bx.comful to you! The original content is as follows:
On September 29, the US dollar (USD) started the week with a bad start, under pressure from the increased risk of the US government shutdown. Meanwhile, gold prices continued to rise after consolidation last week, trading at an all-time high above $3,800. The economic calendar will include business and consumer confidence data in the euro zone and sales data for sale in the United States. Policymakers from major central banks will also speak throughout the day.
The dollar index, which tracks the valuation of the dollar against a basket of six major currencies, closed up last week despite falling on Friday. Earlier on Monday, the index continued to move lower, with the last volatility slightly below 98.00.
U.S. President Donald Trump will meet with top congressional leaders on Monday to avoid the government's shutdown by the end of Tuesday. The market is also worried that if the government closes mid-week, the U.S. Bureau of Labor Statistics may not be able to release September employment data this Friday.
At the same time, investors are waiting for news of the upcoming talks between U.S. President Trump and Israeli Prime Minister Benjamin Netanyahu at the White House. Trump will reportedly push for a peace deal in Gaza. Earlier in the day, Axios reported that Barak Ravid claimed in a social media post that the United States and Israel were very close to reaching a deal to end the war. U.S. stock index futures rose between 0.3% and 0.5% in early trading on Monday.
Euro/USD continued to rise based on Friday's gains, and traded in the positive area above 1.1700 in the early trading of Europe on Monday. The European www.xm-bx.commission will announce economic prosperity indicators and industrial confidence in September, service industry confidence and consumer confidence data.
AUD/USD fell 0.7% last week and gained traction early on Monday and traded above 0.6550. During the Asian session on Tuesday, the Reserve Bank of Australia (RBA) will announce monetary policy decisions.
The GBP/USD continued its rebound momentum in the early European session, rising more than 0.3% on the day, trading around 1.3450.
The US dollar/JPY still faced heavy bearish pressure early on Monday, trading around 148.50.
Gold prices are trading above $3,819 after hitting an all-time high of $3,800 on Monday, with precious metals strengthening and the dollar plummeting as investors prepare for a possible U.S. government shutdown on Wednesday.
Euro: The euro/dollar has a tendency to remain neutral in the intraday trading, and more consolidation may be seen above 1.1644. As long as the 1.1819 resistance level is held, it is expected to fall further. Given the bearish divergence of DMACD, trades that continue to fall below the 55-day moving average (currently at 1.1670) will indicate that 1.1917 is already the mid-term top. Next, you should see a deeper decline, reaching the 1.1390 support level.
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