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Hello everyone, today XM Forex will bring you "[XM official website]: Gold rose by more than $60, and the Federal Reserve faces the "most dangerous" weeks!". Hope it will be helpful to you! The original content is as follows:
On September 23, spot gold was trading around $3744.18/ounce. The gold price hit a new record high of $3748.62/ounce on Monday, driven by the rising expectations of further interest rate cuts in the United States and the continued safe-haven demand under political uncertainty. U.S. crude oil traded around $62.30 a barrel, and oil prices closed slightly lower on Monday as concerns about oversupply outweighed the impact on geopolitical tensions in Russia and the Middle East.
The dollar ended on Monday for three consecutive gains against the euro and Swiss franc as investors digested a series of ehadb.cnments from Fed officials on its latest monetary policy stance.
The U.S. dollar hovered near levels before the Fed decided to start cutting interest rates last week. Analysts say the current pricing is consistent with the Federal Reserve’s message, which emphasizes that growing concerns about the U.S. labor market are the main drivers of policy.
BNY's head of market macro strategy said BobSavage. The lack of important data before the release of core personal consumption expenditure (PCE) inflation data on Friday has led investors to rethink the Fed's interest rate cuts and plans for the future.
The US dollar fell 0.38% against the Swiss franc in New York to 0.792, and the trend will end the three consecutive trading days of gains. St. Louis Federal Reserve Chairman Mousalem said on Monday that he supported the Fed's decision to cut interest rates at last week's meeting, believing it was a preventive move to protect the job market. But he also pointed out that given that inflation is still above the Fed's 2% target, there may be "limited" room for further interest rate cuts.
Federal Director Milan said on Monday that changes in immigration, taxation and regulatory policies will inevitably lower potential U.S. interest rates, making current monetary policy far more thanWhat is needed to keep inflation at the Fed's 2% target is more restrictive.
Milan expressed opposition last week when the Federal Reserve lowered the benchmark interest rate by one quarter percentage point, believing that it should be lowered by half a percentage point. Federal Reserve Chairman Powell will speak on Tuesday. "The data this week is relatively small, and the U.S. second-quarter earnings season has basically ended, and it may be difficult for traders to find direction for most of the week, besides worrying about new ‘emergencies’ and speeches from Fed officials starting today." U.S. President Trump repeatedly criticized the Fed, urging it to cut interest rates more aggressively.
Marc Chandler, chief market strategist at BannockburnForex, New York, said: "We saw a strong rebound in the US dollar after the FOMC meeting, but this rebound was a bit stagnant. I thought the US dollar would have more gains before the next batch of employment data was released. There was not much economic data this week, but it is worth noting that at the FOMC meeting, there were great differences in opinions from all parties, and more than half of the Fed members will speak this week, and Powell's speech may be the focus tomorrow."
The latest data released by S&P Global Global on Tuesday showed that the initial value of the S&P Global Manufacturing Purchasing Managers Index (PMI) in Australia was 51.6 in September, and the previous value was 53.0.
Australia's S&P Global Services Purchasing Managers Index fell from its previous value of 55.8 to 52.0 in September, while the ehadb.cnprehensive Purchasing Managers Index fell from its previous value of 55.5 to 52.1 in September.
A post in the ECB Economic Bulletin shows that euro zone consumers are already adjusting their consumption patterns to deal with U.S. tariffs. The survey shows that 26% of respondents have abandoned U.S. products, while 16% say they have reduced their overall spending.
The ECB points out the differences between different income groups: high-income households are more likely to replace U.S. goods, while low-income households tend to cut total spending. Most of these reductions are concentrated on discretionary purchases, with essentials being basically protected.
In addition to the current spending model, the ECB warns that households are also raising inflation expectations, including long-term views. This suggests that consumers believe that the price pressures associated with tariffs are more than just temporary.
St. Louis Fed Chairman Mousalem said he supported a 25 basis point rate cut last week as a "preventive move" to protect the labor market from further weakening. However, he emphasized in a speech that before monetary policy faces the risk of "over-easing easing", there is limited room for further easing.
He stressed that while the Fed could provide insurance for weak labor markets, it also had to “incline to sustained inflation above targets.”
Musalem added that he will be in the futureThe months continue to update his economic outlook to strike a proper balance between employment and inflation.
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