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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: The US dollar continues to rebound, and gold breaks through US$4,000". Hope it will be helpful to you! The original content is as follows:
The US dollar continued to strengthen against other currencies during the week, and the US dollar index climbed to its highest level since early August, close to 99.00. Investors will continue to pay close attention to the remarks of central bank officials without high-impact data releases. Later in the U.S. session, the Federal Reserve will release minutes of its September policy meeting.
On Tuesday, U.S. lawmakers failed to resolve their dispute over funding legislation, and the government shutdown has passed a week's mark. The Senate will vote again on Wednesday, with Senate Majority Leader John Thunn saying the House will vote on the same lwcgm.cnpetition bill over and over again. Meanwhile, the White House Office of Management and Budget reportedly sent a memo stating that 750,000 furloughed workers were not guaranteed to default on wages. U.S. stock index futures rose and fell in early European trading on Wednesday, after major Wall Street indexes closed in negative territory on Tuesday.
In the early trading session of the Asian session, the New Zealand Fed announced that it would lower the policy interest rate by 50 basis points from 3% to 2.5%, contrary to the market's expected rate cut of 25 basis points. The New Zealand Fed pointed out in its policy statement that the lwcgm.cnmittee remains open to further interest rate cuts to meet the necessary conditions for inflation to stabilize sustainably near the midpoint of the medium-term target. The New Zealand dollar/USD is still facing heavy bearish pressure, trading at its lowest level in six months, close to 0.5750, with an average daily decline of about 0.9%.
The US dollar/JPY continues its weekly upward trend, trading at its highest level since February, above 152.00. Japan's ruling Liberal Democratic Party (LDP) decided to postpone the temporary parliament meeting until October 20 or later, as the new leader of Liberal Democratic Party Takashi Saeno KazukoTalks between Akito Party Chief Tetsuo Saito failed to sustain a long-term governing partnership.
Outgoing French Prime Minister Sebastien Le Cornou said on Wednesday they must get budget approval by the end of the year, noting that negotiations so far showed a willingness to do so. Le Cornu is due to meet President Emmanuel Macron later in the day. Despite this, EUR/USD struggled to hold its ground and fell towards 1.1600 in early European trade on Wednesday.
After falling around 0.5% on Tuesday, GBP/USD is slightly lower, trading around 1.3400 to start the European session.
Gold’s record rally continues, hitting a new all-time high and rising more than 1% on the day. Gold has gained nearly 5% since the beginning of October.
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