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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: Non-agricultural upset, the Federal Reserve's sudden personnel earthquake, and the expectation of interest rate cuts skyrocketed overnight!". Hope it will be helpful to you! The original content is as follows:
On August 4, early trading in the Asian market on Monday, Beijing time, the US dollar index hovered around 98.85. Last Friday, the US dollar index fell sharply as weak non-farm data drove the rate cut expectations to heat up sharply, breaking the 99 integer mark and finally closed down 1.363% to 98.67, the largest single-day drop in more than four months. The yields of US Treasury collectively plunged, with the benchmark 10-year U.S. Treasury yield closing at 4.225%, and the 2-year U.S. Treasury yield closing at 3.698%. Spot gold rose sharply after the non-agricultural data was released, rising by more than $70, and finally closed up 2.21%, closing at $3362.88/ounce, setting a new weekly high and erasing all the declines during the week; spot silver trends were similar, but the increase was slightly worse, and finally closed up 0.76% to $37.05/ounce. International crude oil continues to decline as markets worry about OPEC+'s prospects for production increase and weaker than expected U.S. employment reports have exacerbated demand concerns. WTI crude oil continued to fall in the US session, finally closing down 3.29% at $66.65 per barrel; Brent crude oil finally closed down 3.26% at $69.35 per barrel.
Dollar Index: As of press time, the US dollar index hovered at US$98.85. After the non-agricultural data was released last week, the financial market responded quickly, showing a typical market dominated by "help aversion" and "loose expectations". The US dollar index fell rapidly after the data was released, with a drop of 0.42% at one point, reaching a low of 99.1899, setting a new intraday low. Technically, if the US dollar index closes below the 99.00 level, it will move to the next support level, which is in the 98.00–98.20 range.
On the Asian session on Monday, gold hovered around 3252.18. Gold prices fell slightly, ending the two-day consecutive rise in early Asian trading on Monday. Still, weak U.S. jobs data and tariff concerns could weigh on the dollar and help limit losses in dollar-denominated vifu.netmodities.
2) Analysis of crude oil market trends
On the Asian session on Monday, crude oil trading around 66.34. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced on Sunday that it plans to increase oil production in September by 547,000 barrels per day (bps) as concerns about potential supply disruptions related to Russia increased. OPEC+ started to increase production in April, with a slight increase of 138,000 barrels per day, followed by the increase in May, June and July, exceeding the planned 411,000 barrels per day, with an increase of 548,000 barrels per day in August and a growth of 547,000 barrels per day in September.
①14:30 Swiss July CPI monthly rate
②16:30 Eurozone August Sentix Investor Confidence Index
③22:00 US June factory order monthly rate
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