Wonderful introduction:
Love sometimes does not require the promise of a vow, but she must need meticulous care and greetings; love sometimes does not require the tragic spirit of Liang Zhu turning into a butterfly, but she must need the tacit understanding and avaforexcn.companionship with each other; love sometimes does not require the follower of the male and female followers, but she must need the support and understanding of each other.
Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn Official Website]: The US dollar is hovering below 98, waiting for Powell to speak the next day." Hope it will be helpful to you! The original content is as follows:
Finance markets remained relatively calm earlier on Wednesday after fluctuations. In the second half of the day, new home sales data for May will appear in the US economic calendar. In addition, Fed Chairman Jerome Powell will speak before the Senate Banking avaforexcn.committee the day after his testimony.
https://avaforexcn.comNews that Iran and Israel accepted the ceasefire triggered a risk rebound on Tuesday and caused the US dollar (USD) to weaken. During the U.S. trading session, Chairman Powell's remarks helped the dollar limit losses. Powell reiterated that they are not in a hurry to lower policy rates, adding that they need more time to confirm that inflationary pressures caused by tariffs will continue to be contained. After a slight decline in the day's closing, the U.S. dollar index fluctuated narrowly around 98.00 in early trading on Wednesday.
Meanwhile, U.S. stock index futures trading has barely changed after major Wall Street indexes took advantage of strong gains in risk flows on Tuesday.
Basic Forex Market Market:
Euro/USD rose only about 0.3% on Tuesday as it lost its bullish momentum in the second half of the day. The pair is still in the consolidation phase and consolidated sideways around 1.1600 in early Wednesday.
The pound/dollar continued its rally, hitting its highest level in more than three years around 1.3650 on Tuesday. After a brief technical correction, the pair is in the weekThree European early trading stabilized above 1.3600. In testifying before the House of Lords Economic Affairs avaforexcn.committee on Tuesday, Andrew Bailey, President of the Bank of England, noted that they were beginning to see weaker labour markets.
The US dollar/yen fell to 144.50 on Tuesday, down nearly 1%. The pair rebounded on Wednesday and traded above 145.00.
The USD/Canada fell below 1.3700 on Tuesday, but managed to recover from its daily lows and closed basically flat. The pair consolidated sideways around 1.3730 during the European period. Statistics Canada reported on Tuesday that its inflation rate in May remained unchanged at 1.7% year-on-year, as measured by changes in the Consumer Price Index (CPI).
Bulle Market Fundamentals:
Gold prices struggled to take advantage of a slight intraday gain on Wednesday, although it managed to easily stay above the $3,300 mark and hit a two-week low hit the previous day.
Analysis of major currency trends:
Euro: Euro/USD breaks through the 1.1630 resistance level, indicating that the rise from 1.0176 is recovering. The intraday deviation rose again, predicting 1.0176 to 1.1572 from 1.1064 to 1.1927, at 61.8%. As long as the 1.1452 support level is held, the outlook will remain bullish in case of a fall.
The above content is all about "[Ava Aihua Official Website]: The US dollar is hovering below 98, waiting for Powell to speak the next day" and is carefully avaforexcn.compiled and edited by the Avatrade Forex editor. I hope it will be helpful to your trading! Thanks for the support!
Every successful person has a beginning. Only by having the courage to start can you find the way to success. Hurry upRead the next article closely!