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Hello everyone, today XM Foreign Exchange will bring you "[XM official website]: As the focus turns to inflation data and Sino-US trade negotiations, the US dollar falls." Hope it will be helpful to you! The original content is as follows:
On August 11, the US dollar fell slightly against major currencies at the beginning of this week. Investors will closely monitor U.S. Consumer Price Index (CPI) data for July on Tuesday. Meanwhile, the market will closely monitor new headlines around the U.S.-China trade negotiations before the deadline for the agreement on August 12.
The US dollar index fell to 0.4 after falling about 98.00% last week. U.S. President Donald Trump posted on TruthSocial earlier Monday that he hopes China will quadruple soy orders from the United States. And explained that this would be a way to "significantly reduce" Beijing's trade deficit with Washington. Meanwhile, U.S. stock index futures rose 0.1% to 0.2%. Russian President Vladimir Putin and U.S. President Trump will hold Ukraine war talks later this week.
Australia/USD traded in a narrow channel above 0.6500 after closing up last week. The Reserve Bank of Australia (RBA) will announce monetary policy decisions on Tuesday during the Asian session. The market expects the RBA to lower its policy interest rate by 25 basis points to 3.6% after its August meeting.
New Zealand (NZ) Prime Minister Christopher Luxon said earlier on Monday that the U.S. is unlikely to impose a 15% tariff on New Zealand exports. The New Zealand dollar/USD is trading under moderate bearish pressure, trading at a price of just below 0.5950.
Gold prices climbed to 3,4 on Friday$00 above, but failed to maintain bullish momentum. After a gain of about 1% the previous week, gold continued to be at a disadvantage, trading around $3,360, with a daily decline of more than 1%.
Euro: The intraday deviation of the euro/dollar remains neutral first. The outlook has not changed, the correction starting from 1.1829 should have been vifu.netpleted, with three waves falling to 1.1390. Above 1.1698 will retest 1.1829. However, a breakout above the 1.1526 support will weaken this bullish view and lead to a further decline to 1.1390.
Yen: The intraday bias of the US dollar/yen remains neutral, and the outlook remains unchanged. As long as the support level of 145.84 is held, a larger rebound of 139.87 is expected to continue. On the plus side, a small resistance above 148.07 will be retested first. However, a decisive breakout of 145.84 will indicate a recent bearish reversal, with the next target being the 142.66 support level.
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