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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: The Federal Reserve cut interest rates by 25 basis points as scheduled, and gold hit a new high and plunged sharply!" Hope it will be helpful to you! The original content is as follows:
On September 18, early trading in the Asian market on Thursday, Beijing time, the US dollar index hovered at 96.99. In the early morning of Thursday, after the Federal Reserve announced a 25 basis point rate cut, the US dollar index plunged in the short term, but in a subsequent press conference, Powell said this was a "risk management" rate cut. The US dollar index rebounded and recovered the $97 mark, and finally closed up 0.37% to 97.02. The benchmark 10-year U.S. Treasury yield closed at 4.0850%, and the 2-year U.S. Treasury yield closed at 3.5720%. Strictly dragged down by the US dollar's rebound, spot gold hit a new high and fell sharply, touching US$3,650 for a time, and finally closed down 0.83%, closing at US$3,658.86/ounce; spot silver finally closed down 2.01%, at US$41.65/ounce. Crude oil prices ended up three consecutive surges as investors evaluated the latest U.S. inventory report and the Federal Reserve warned of cracks in the U.S. labor market. WTI crude oil closed down 0.90% at $63.96 per barrel; Brent crude oil finally closed down 0.85% at $67.92 per barrel.
Dollar Index: As of press time, the US dollar hovered around 96.99. The U.S. dollar index hit a weekly low near 96.50 on Wednesday, followed by an acceptable rebound after the Fed decided to cut interest rates. The number of weekly initial jobless claims will be the focus along with the Philadelphia Fed Manufacturing Index, CB Leading Index and TIC traffic. Technically, the latest US dollar indexThe support level is in the range of 96.40–96.55. If the U.S. dollar index closes below that level, it will go to the next support level 95.50–95.65.
On Thursday, gold hovered around 3662.78. Gold prices plummeted after the Federal Open Market www.qgrse.cnmittee (FOMC) decided to cut interest rates by 25 basis points, indicating further easing is expected in 2025. Fed Chairman Jerome Powell said at a press conference that labor demand was “already weak” and inflation remained “slightly rising.” He added that the risk balance “has changed” and that the policies are in a favorable position to respond in a timely manner, and the labor market is not stable. Asked about the discussion about the 50 basis point cut, he said "there is no widespread support for the 50 basis point cut today", adding that they are not in a hurry to relax policies.
On Thursday, crude oil trading around 63.52. Oil prices fell on Wednesday after data showed rising U.S. diesel stocks sparked concerns about demand and the Fed cut rates as expected. Investors need to pay attention to the market's further interpretation of the Federal Reserve's interest rate resolution, the changes in the Bank of England's interest rate resolution and the number of initial unemployment claims in the United States, and the press conference held by US President Trump after meeting with British Prime Minister Stamer.
19:00 The Bank of England announced interest rate resolution and meeting minutes
20:30 The number of initial unemployment claims in the week from the United States to September 13
20:30 US Philadelphia Fed Manufacturing Index in September 21:20 US President Trump held a release with British Prime Minister Stamer Meeting
22:00 The leading indicator monthly rate of the United States Consulting Chamber of www.qgrse.cnmerce in August
22:30 The EIA natural gas inventory in the week from the United States to September 12
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