Wonderful introduction:
Without the depth of the blue sky, there can be the elegance of white clouds; without the magnificence of the sea, there can be the elegance of the stream; without the fragrance of the wilderness, there can be the emerald green of the grass. There is no seat for bystanders in life, we can always find our own position, our own light source, and our own voice.
Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Decision Analysis]: The US dollar index reversal, gold rides on a roller coaster, Trump and Musk openly criticize each other." Hope it will be helpful to you! The original content is as follows:
On June 6, early trading in Asian market on Friday, Beijing time, the US dollar index hovered around 98.82. On Thursday, the heads of Chinese and US dollars talked on the phone, and the US dollar index reversed V-shaped reversal, but remained below the 99 mark, and finally closed down 0.42% to 98.813. U.S. Treasury yields rose collectively, with the benchmark 10-year U.S. Treasury yields closed at 4.391%, and the 2-year U.S. Treasury yields closed at 3.928%. Spot gold took a roller coaster ride, and after hitting the $3,400/ounce mark during the session, it took a sharp turn and fell, giving up all the gains in the day, and finally closed down 0.58% to close at $3,352.83/ounce; spot silver performed strongly, standing above the $36/ounce mark for the first time since February 2012, and finally closed up 3.33% to $35.65/ounce. As more news of the progress of trade agreements boosted demand outlook, international crude oil rose, with WTI crude oil hitting a maximum of $63.295 per barrel, eventually closing up 0.74% to $62.63 per barrel; Brent crude oil closed up 0.57% to $65.04 per barrel.
Dollar Index: As of press time, the US dollar index hovers around 98.70. The dollar could end a year-long easing cycle and U.S. data showed weak labor market conditions amid increasing economic resistance from tariffs. Although the dollar weakened against the euro, the dollar strengthened slightly against safe-haven currencies such as the yen and Swiss francs, reflecting possible position adjustments before the release of employment data. Technically, the most recent resistance level of the US dollar index is at 99.00–99.20 range. A breakout above the 99.20 level will push the US dollar index toward the next resistance level 100.20–100.40.
On Friday, gold trading around 3359.51. Gold prices surged and fell on Thursday. Earlier intraday silver broke through the $35 mark, hitting a 13-year high, driving gold prices to rise above the 3400 mark, hitting a new high in the past four weeks to around $3403.28 per ounce. However, spot gold prices closed down 0.6% to $3352.65 per ounce due to signals of easing trade tensions released by the call between Chinese and US leaders. The market's attention has begun to turn to the upcoming U.S. non-farm employment data and the Federal Reserve's policy trends.
Technical: From the daily chart, gold is currently fluctuating between the middle and upper tracks of the Bollinger Band, and the overall situation is still in the consolidation stage in the upward trend. After breaking through $3,300, the price was temporarily blocked at the $3,430 line. This level is the previous high area and is also the short-term resistance corresponding to the upper track of the Bollinger band. Analysts believe that if the subsequent volume exceeds US$3,430, it is expected to challenge the high point of US$3,499.83 again. In terms of MACD indicators, express line (DIFF)) and the slow line (DEA) are above the zero axis, showing a mild golden cross, the bar chart turns slightly red, and the kinetic energy begins to recover, suggesting that there is a possibility of further strengthening in the short term. The Relative Strength Index (RSI) is currently hovering around 58, and there is no overbought signal, indicating that the market sentiment is relatively neutral and is retaining space for subsequent rises. From the overall structure, gold shows a significant box oscillation pattern, with support level referring to the $3300 mark and resistance level focusing on the $3430 level; once it breaks through, the space above is expected to be further opened.
On Friday, crude oil trading was around 62.52. The recent uptrend is fading as the market encounters technological resistance and demand concerns intensify. Price is still above the 50-day moving average of $62.40. However, the rally stagnated at $63.96, just below the key resistance levels of $64.19 and $64.40. If these levels rise above, it may open up a path towards the 200-day moving average of $68.72. Without follow-up follow-up, the market could face the risk of a lower pivot range between $62.59 and $59.51. The market's attention has begun to turn to the upcoming U.S. non-farm employment data and the Federal Reserve's policy trends.
14:00German April seasonally adjusted industrial output monthly rate
14:00German April seasonally adjusted trade account
14:00UK May Halifax seasonally adjusted house price index monthly rate
14:45France April industrial output monthly rate
14:45France April April trade account
17:00Eurozone's first quarter GDP annual rate correction value
17:00Eurozone's first quarter quarterly adjusted employment final value
17:00Eurozone's first quarter quarterly adjusted employment final value
>
17:00 Eurozone April retail sales monthly rate
20:30 Canadian employment in May
20:30 US May unemployment rate
20:30 US May seasonally adjusted non-farm employment population
20:30 US May average annual wage annual rate
20:30 US May average monthly wage per hour
20:30 US May average monthly wage per hour
The next day 01:00 US to June 6 total oil drilling rigs
The above content is about "[XM foreign exchange decision analysis]: US dollar index reversal, gold rides a roller coaster specialThe entire content of Trump and Musk's open slander" was carefully vifu.netpiled and edited by the editor of XM Forex. I hope it will be helpful to your transaction! Thanks for your support!
Only the strong can understand the struggle; the weak can't even fail, but are born to be conquered. Go forward to learning the next article!