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The US dollar index fluctuates sideways, and the EU's tariff counter-attack against the United States is postponed again. Trump takes a heavy blow to India!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Group]: The US dollar index fluctuates sideways, the EU's tariff counter against the United States is postponed again, Trump sends a heavy blow to India!" Hope it will be helpful to you! The original content is as follows:
On August 5, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered around 98.67. On Monday, the US dollar index fluctuated sideways and finally closed slightly higher by 0.05% at 98.708. U.S. Treasury yields fluctuated and fell, with the benchmark 10-year U.S. Treasury yields closing at 4.197%, and the 2-year U.S. Treasury yields closing at 3.679%. Benefiting from the rise in expectations of interest rate cuts, spot gold rose for the third consecutive trading day, once standing above the $3380 mark, and finally closed up 0.32%, closing at $3373.56/ounce; spot silver also extended its upward trend and finally closed up 0.99% to $37.41/ounce. International crude oil fell to a one-week low as OPEC+'s another sharp increase in production offsets market concerns that market sanctions on Russian oil could trigger supply shortages. WTI crude oil opened low and closed low, finally closing down 1.47% at $65.67 per barrel; Brent crude oil finally closed down 1.18% at $68.53 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered at US$98.67. The dollar was recovering some of its declines on Monday, but was still limited to below 98.7, well below the highs near the psychological level of 100.00 last week. Technically, if the U.S. dollar index successfully closes above 99.00, it will move towards resistance at 99.20–99.40.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On Tuesday, gold hovered around 3378.47. Gold prices rose slightly on Monday following Friday’s bleak U.S. nonfarm jobs report last Friday. Expectations of a possible rate cut by the Federal Reserve have risen since last Friday. Expectations of a possible rate cut by the Federal Reserve are boosting gold. The probability of a rate cut on September 17 is 87%.
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 65.63. WTI transactions fell slightly after the Organization of the Petroleum Exporting Countries and its allies (OPEC+) approved another sharp increase in production in September. OPEC+ held a virtual meeting on Sunday, agreeing to increase oil production by 5.47 million barrels per day (bps) in September as concerns over potential supply disruptions related to Russia increased. The group began to increase production in April, with a slight increase of 138K barrels per day, followed by an increase of more than 411K barrels per day in May, June and July, an increase of 548K barrels per day in August and a growth of 547K barrels per day in September.
Forex market trading reminder on August 5, 2025
①09:45 China's July S&P Global Service Industry PMI
②14:45 France's June industrial output monthly rate
③15:50 France's July service industry PMI final value
④15:55 Germany's July service industry PMI final value
⑤16:00 Eurozone's July service industry PMI final value
⑥16: 30 UK July service industry PMI final value
⑦17:00 Eurozone June PPI monthly rate
⑧20:30 US June trade account
⑨21:45 US July S&P Global Service Industry PMI final value
22:00 US July ISM non-manufacturing PMI
?The next day 04:30 US to the week of August 1
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