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market analysis
"Horror data" exceeded expectations, and the US dollar fell below the 97 mark
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Hello everyone, today XM Forex will bring you "[XM Group]: "Horror data" exceeds expectations, and the US dollar fell below the 97 mark." Hope it will be helpful to you! The original content is as follows:
On September 17, in the early trading of the Asian market on Wednesday, Beijing time, the US dollar index hovered at 96.69. On Tuesday, the dollar index fell to its lowest level in more than 10 weeks and ended up closing down 0.71% at 96.65 as investors bet on the Fed would cut interest rates this week and assess the possibility of further monetary easing in the xm-forex.coming months. The benchmark 10-year U.S. Treasury yield closed at 4.0350%, and the 2-year U.S. Treasury yield closed at 3.5120%. Spot gold broke through $3,700 per ounce for the first time, and then plunged in the short term, eventually closing up 0.29%, closing at $3,689.46 per ounce; spot silver finally closed down 0.38%, at $42.50 per ounce. International crude oil rose as Ukraine's attacks put increasing pressure on Russian oil production and Israel launched air strikes on the Yemeni port city of Hodeida. WTI crude oil finally closed up 2.01% at $64.54 per barrel; Brent crude oil finally closed up 1.51% at $68.50 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar hovered around 96.69. The U.S. dollar index fell below 97.00 support, hitting a two-month low as strong selling pressure and U.S. yields fell over different time frames. The Federal Open Market xm-forex.committee (FOMC) meeting and the updated "dot map" will be the focus, followed by new home starts, construction permits, MBA mortgage applications and EIA's weekly report on U.S. crude oil inventories. Technically, the US dollar index closed below support level 97.10–97.30 and is heading towards the next support level 96.40–96.50 Move.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
In the Asian session on Wednesday, gold hovered around 3691.76. Precious metals rose slightly amid weak dollar and rising expectations of multiple Fed rate cuts. Everyone's eyes will be focused on the Federal Reserve's interest rate decision late Wednesday. It is widely expected that the Fed will cut key loan interest rates by 25 basis points (bps) at its September meeting. This will be the first rate cut in 2025 and reduce the federal funds rate to the target range of 4.0% to 4.25%.
2) Analysis of crude oil market trends
On Wednesday, crude oil trading around 64.15. WTI continued its rally due to concerns about disruptions in Russia's supply and weak USD. Traders are ready for the International Energy Agency's (IEA) inventory report and the Federal Reserve's (Fed) interest rate decision late Wednesday. Reuters reported on Tuesday that Transneft, a Russian oil pipeline monopoly that handles more than 80% of the country's oil, warned producers that they may have to cut production after Ukraine launches drone attacks on key export ports and refineries.
Forex market trading reminder on September 17, 2025
21:45 Bank of Canada announced interest rate resolution
22:30 EIA crude oil inventories in the week from the United States to September 12
22:30 EIA Cushing crude oil inventories in the week from the United States to September 12
22:30 EIA strategic oil reserve inventories in the week from the United States to September 12
22:30 EIA strategic oil reserve inventories in the week from the United States to September 12
22:30 EIA strategic oil reserve inventories in the week from the United States to September 12
22:30 Bank of Canada Governor McClum held a press conference
The next day, 02:00 Fed FOMC announced a summary of interest rate resolution and economic expectations
The next day, 02:30 Fed Chairman Powell held a press conference on monetary policy
The next day, 03:00 US President Trump was interviewed by Fox News in the UK
The above content is about "【XM Group]: The entire content of "terror data" exceeded expectations, and the US dollar fell below the 97 mark" was carefully xm-forex.compiled and edited by the editor of XM Forex. I hope it will be helpful to your trading! Thanks for the support!
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