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The dollar stands at the 99 mark, and the Fed’s “third leaders” support further interest rate cuts
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Market Analysis]: The US dollar stands at the 99 mark, and the "three leaders" of the Federal Reserve support further interest rate cuts." Hope this helps you! The original content is as follows:
On October 10, in early Asian trading on Friday, Beijing time, the U.S. dollar index was hovering around 98.38. On Thursday, the U.S. dollar index rose for the fourth consecutive trading day, standing above the 99 mark, and finally closed up 0.56% at 99.39, continuing to hit a more than 2-month high. The benchmark 10-year U.S. Treasury yield closed at 4.144%, and the 2-year U.S. Treasury yield, which is sensitive to the Fed's policy rate, closed at 3.605%. As the U.S. dollar rose and gold investors took profits after Israel and Hamas reached a ceasefire agreement, spot gold once fell by more than $100 from its historical high, eventually closing down 1.62% at $3,976.19 per ounce. www.xmltrust.company; Spot silver went on a roller coaster, reaching a maximum of $51.223 per ounce, setting another 14-year high. The U.S. market fell sharply, erasing most of the day's gains, and finally closed up 0.82% at $49.27 per ounce. As tensions in the Middle East take a turn for the better, international crude oil gives back some of its risk premium. WTI crude oil ended its four-day winning streak, once falling below the $61 mark, and finally closed down 1.29% at $61.17/barrel; Brent crude oil finally closed down 1.2% at $65.01/barrel.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.38. On Thursday, the U.S. dollar index rose 0.5%, strengthening for four consecutive trading days. It hit a new high in nearly two months to 99.55, and finally closed at 99.37. The rise directly raises the cost of dollar-denominated gold for overseas buyers, making it less attractive. Technically, the U.S. Dollar Index climbed above the resistance levels of 98.85–99.00 and attempted to close above the 99.50 level. If this attemptIf successful, the USD Index will head towards the next resistance level, which is located in the 100.00–100.15 range.
Gold and crude oil market trend analysis
1) Gold market trend analysis
In the Asian market on Friday, gold hovered around 3391.40. Gold market sentiment turned negative on Thursday. Gold prices fell as traders took profits, falling to a daily low of $3,944 as Chinese traders returned from holidays. Optimistic news about a permanent ceasefire between Israel and Hamas added to the relief sentiment among market participants.
2) Crude oil market trend analysis
On Friday’s Asian session, crude oil was trading around 61.20. Due to geopolitical tensions in the Middle EastTensions eased and WTI lost its appeal. Traders will be closely watching how long the U.S. federal government shutdown will last. Bloomberg reported late Thursday that Israel had begun enforcing a ceasefire in Gaza after reaching an agreement with Hamas on the release of all hostages it held. The ceasefire agreement calls for an end to hostilities in Gaza, a partial withdrawal of Israeli troops and the release of hostages acquired by Hamas during the war in exchange for hundreds of prisoners. Reducing tensions in the Middle East, which is the source of one-third of the world's crude oil, dragged WTI lower.
October 10, 2025 Foreign Exchange Market Transaction Alert
①15:00 Swiss Consumer Confidence Index in September
②20:30 Canadian Employment Numbers in September p>
③21:45 The Federal Reserve Goolsby delivered a speech at the meeting
④22:00 The initial value of the one-year inflation rate expectation in the United States in October
⑤22:00 The University of Michigan news in October Initial value of consumer confidence index
⑥The total number of oil drilling rigs in the United States for the week to October 10 at 01:00 the next day
⑦The Fed Musallem gave a speech at 01:00 the next day
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