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The US dollar is below $99, pay attention to US-China negotiations and UK employment reports
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The US dollar is below $99, pay attention to the US-China negotiations and the UK employment report." Hope it will be helpful to you! The original content is as follows:
On June 10, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered around 98.96. On Monday, as investors closely monitored the Sino-US trade negotiations, the US dollar index fluctuated and fell, breaking the 99 mark during the session, and finally closed down 0.21% at 99.01. The yield on the US Treasury fell slightly, with the benchmark 10-year US Treasury yield closing at 4.478%, and the 2-year US Treasury yield closing at 4.012%. Thanks to the weakness of the US dollar, spot gold rebounded from the lows of more than a week that it hit earlier intraday, regaining all intraday declines, and finally closed up 0.47% to close at $3,325.7/oz; spot silver rose for the fourth consecutive trading day, finally closing up 2.17% to $36.76/oz. International crude oil continued its uptrend as hopes of easing trade tensions boosted demand outlook. WTI crude oil remained above $64/barrel and finally closed up 0.7% to $64.56/barrel; Brent crude oil closed up 0.62% to $66.78/barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 98.96. The U.S. dollar index fell slightly on Monday, falling from its rebound highs last Friday, but still above the key technical support levels of 98.351 and 97.921. This moderate decline reflects a temporary rest of the dollar momentum, and the market has turned cautious before the Sino-US trade negotiations open in London. As the Fed is not expected to have a major policy change and global growth risks are linked to trade tensions, the US dollar trend is expected to maintain range volatility to the bearish tone before inflation data is confirmed and trade issues are resolved. Technically, if the US dollar index closes below the 99.00 level, it will be heading towards the mostThe near support level advances, that is, it is in the range of 98.00–98.20.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Term analysis of gold market trends
Two on Tuesday, gold trading around 3317.34. Gold prices rebounded 0.4% on Monday, closing at around $3,325.45 per ounce. This wave of gold price rise was not only driven by the weakening of the US dollar, but also closely related to Sino-US trade negotiations, global economic uncertainty and the heating of inflation expectations. The market is light today, with investors waiting for Friday's U.S. Consumer Price Index (CPI) data to assess the health of the U.S. economy and predict the Fed's rate cut trajectory.
On the Asian session on Tuesday, crude oil trading around 64.54. Oil prices hit a two-month highest on Monday, boosted by a weaker dollar. At the same time, investors were waiting for news of trade talks in London, hoping that a deal could boost global economic outlook and stimulate demand. In addition, the weakening of the dollar brought some support to oil prices. The dollar index fell 0.3%, making oil cheaper for investors holding other currencies.
Forex market trading reminder on June 10, 2025
①14:00 UK three-month ILO unemployment rate in April
②14:00 UK May unemployment rate
③14:00 UK May unemployment rate
④15:00 Switzerland May consumer confidence index
⑤16:30 Eurozone June Sentix Investor Confidence Index
⑥18 :00 US May NFIB Small Business Confidence Index
⑦ 00:00 the next day EIA released its monthly short-term energy outlook report
⑧ The next day 04:30 the US to June 6 API crude oil inventories
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