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The US dollar index continues to decline, and spot gold rose by more than $1,000 this year!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: The US dollar index continues to decline, and spot gold rose by more than $1,000 this year!". Hope it will be helpful to you! The original content is as follows:
On September 9, in the early trading of the Asian market on Tuesday, Beijing time, the US dollar index hovered around 97.37. The dollar index continued its decline on Monday, ending down 0.28% to 97.47 after last week's weak U.S. jobs report was released. The benchmark 10-year U.S. Treasury yield closed at 4.0430%, while the 2-year U.S. Treasury yield closed at 3.4970%. Boosted by weak U.S. labor data and expectations of the Federal Reserve's interest rate cut next week, spot gold rose above $3,630, setting a new record high, rising more than $1,000 this year, and finally closed up 1.38% to $3,635.50/ounce; spot silver finally closed up 0.81% to $41.30/ounce. The EU plans to push forward the 19th round of sanctions on Russia to lock in banks and oil trade. Oil prices closed higher on Monday, regaining some of the lost land last week. WTI crude oil finally closed up 0.79% at $62.45 per barrel; Brent crude oil finally closed up 0.87% at $66.23 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered at US$97.37. The market has digested that the Fed will almost certainly cut interest rates at its upcoming meeting, with a 10% chance of a greater rate cut of 50 basis points. Technically, the US dollar index has fallen below the 98.00 support level, weakening the bullish momentum. Continuous decline below this area will indicate a further decline to 97.00,
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On Tuesday, gold hovered around 3637.68. As weak U.S. labor market data strengthened the Fed's expectations of a rate cut next week, gold prices continued to hit a historical high of $3,646.23 per ounce on Monday, and gold prices are expected to continue to rise to around 3,700-3,730 in the short term. This trading day will usher in the release of the annual benchmark correction data of the US Bureau of Labor Statistics, and investors need to pay attention to it; in addition, investors also need to pay attention to the relevant news about the geopolitical situation in Russia and Ukraine.
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 62.1. WTI crude oil rose slightly after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to slow the pace of production growth xmaccount.compared to previous months. OPEC+ has agreed to further increase oil production from October as its leader Saudi Arabia is working to regain market share. The group decided to increase production by 137,000 barrels per day from October. This increase is significantly lower than the previous gains of about 555,000 barrels per day in August and September and 411,000 barrels per day in June and July.
Forex market trading reminder on September 9, 2025
①To be determined Domestic refined oils open a new round of price adjustment window
②14:45France July industrial output monthly rate
③18:00US NFIB Small Business Confidence Index in August
④22:00US Bureau of Labor Statistics released the annual benchmark correction data for non-agricultural standards
⑤EIA announced the next day at 00:00EIA Monthly Short-term Energy Outlook Report
⑥The next day, 01:00 Apple's autumn new product launch conference
⑦The next day, 04:30 the next day, API crude oil inventories from the United States to September 5
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