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Powell's fake resignation letter floods the screen, and the gold stands at the 3430 mark
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Hello everyone, today XM Foreign Exchange will bring you "[XM Group]: Powell's fake resignation letter floods the screen, and the gold is at the 3430 mark." Hope it will be helpful to you! The original content is as follows:
On July 23, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 97.35. On Tuesday, as trade tensions and the White House and the Fed continued to conflict, the U.S. continued to fall at the beginning of the session, and finally closed down 0.5% at 97.322. U.S. Treasury yields fell across the board, with the benchmark 10-year U.S. Treasury yields closed at 4.35%, and the 2-year U.S. Treasury yields closed at 3.852%. Spot gold turned from a decline to a rise, standing above the $3430 mark, and finally closed up 1.02%, closing at $3431.64/ounce, setting a new high for more than a month; spot silver once again broke through the $39 mark, and finally closed up 0.92%, reaching $39.29/ounce, continuing to hit the new high in September 2011. International oil prices fell for the third straight trading day as negotiations between the United States and its trading partners sparked concerns about a slowing outlook for oil market demand. WTI crude oil once fell below the $65 mark and rebounded in the late trading, finally closing down 0.52% to $65.34/barrel; Brent crude oil closed down 0.47% to $68.06/barrel.
Analysis of major currencies
Dollar Index: As of press time, the U.S. dollar index hovers at $97.35 There is no clear direction in Tuesday's reversal, the foreign exchange market is generally calm, and investors are waiting for any signs of progress to discuss the progress before the August 1 deadline, which may mean high tariffs are imposed on U.S. trading partners that fail to reach an agreement. Technically, the US dollar index closed below the previous support level 98.00–98.20 and tried to close below the 97.50 level. If this attempt succeeds, it will be heading towards the bitGo forward at the next support level in the 96.70–96.90 range.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
In the Asian session on Wednesday, gold hovered around 3429.64. Gold prices climbed to a five-week high on Tuesday, backed by trade uncertainty and falling U.S. Treasury yields, investors continued to watch President Trump’s August 1 tariff negotiation deadline.
2) Analysis of crude oil market trends
On Wednesday, crude oil trading around 65.47. Oil prices fell for the third straight day on Tuesday as hopes of a trade deal between the United States and Europe increased concerns about a slowdown in the world's largest oil market economy.
Forex market trading reminder on July 23, 2025
①U.S. President Trump delivered a speech
②22:00Eurozone July Consumer Confidence Index Initial Value
③22:00U.S. June total annualized total number of existing home sales
④22:30EIA crude oil inventories in the week from the week from the week from the week from the week from the week from the year 2025
⑤22:30EIA Cushing crude oil inventories in the week from the week from the week from the week from the year 2020
⑥22:30EIA Strategic Oil Reserve Inventories in the week from the week from the year 2020
⑦0E the next day at 04:00European U.S. stocks announced their financial report after the market
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