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market analysis
The dollar index rose sharply, Trump urged the Fed to cut interest rates again
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Decision Analysis]: The US dollar index has risen sharply, and Trump has urged the Federal Reserve to cut interest rates again." Hope it will be helpful to you! The original content is as follows:
On July 29, in the early trading of the Asian market on Tuesday, Beijing time, the US dollar index hovered around 98.64. On Monday, the US dollar index rose sharply, and continued to rise after breaking through the 98 mark during the session, finally closing up 1% to 98.633. Most of the U.S. Treasury yields rose, with the benchmark 10-year U.S. Treasury yields closed at 4.417%, and the 2-year U.S. Treasury yields closed at 3.93%. Due to the strengthening of the US dollar and the warming of risk sentiment, spot gold fell for four consecutive days. The US market plunged in the short term, approaching the $3,300 mark, and then rebounded, eventually closing down 0.68%, closing at $3,314.63/ounce; spot silver closed flat at $38.17/ounce. International crude oil rebounded as Trump said he was considering shortening the 50-day deadline of the Russian-Ukrainian peace agreement. WTI crude oil finally closed up 2.85% at $66.7 per barrel, a two-week high; Brent crude oil once stood above the $70 mark and finally closed up 2.91% at $69.57 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered at US$98.64. Market focus is now turning to this week's Fed and Bank of Japan meetings. The two central banks generally expect to keep interest rates unchanged, but the market will carefully interpret the xmserving.comments after the meeting to find policy directions. If the Fed releases signals that interest rates are stable and overseas continues to maintain a dovish stance, the yield differences that have been suppressed by policy uncertainty may become more important again. HSBC's Paul McKel pointed out that recent trade agreements may reduce policy risks and make traditional foreign exchange drivers such as relative interest rates more important. Technically, the US dollar index broke through resistance at 98.00–98.20 and tried to close at 98.50 level.square. If this attempt is successful, the U.S. dollar index will move to the next resistance level of 99.20–99.40.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On Tuesday, gold hovered around 3309.01. Spot gold fell sharply on Monday, hitting its intraday low of $3301.29/ounce at the last three-week low, closing at $3314.44/ounce, a drop of about 0.66%, which is the fourth consecutive trading day. The fluctuating downward trend in gold prices is not only directly affected by the trade agreement reached by the United States and Europe, but also closely related to the strong rebound of the US dollar index, the recovery of global risk appetite, and the market's expectations for the Federal Reserve's interest rate policy. This trading day will also be released on the US July Consultative Conference Consumer Confidence Index and US June JOLTs Job Vacancy Data, which investors need to pay attention.
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 66.53. Oil prices rose nearly 3% on Monday after the U.S. and the EU reached a trade deal, and U.S. President Trump announced that it would shorten the deadline for Russia to end the Ukraine war or face sanctions. This trading day will also be released on the US July Consultative Conference Consumer Confidence Index and US June JOLTs Job Vacancy Data, which investors need to pay attention.
Forex market trading reminder on July 29, 2025
①To be determined Domestic refined oils open a new round of price adjustment window
②16:30 UK Central Bank Mortgage License in June
③21:00 US May FHFA House Price Index Monthly Rate
④21:00 US May S&P/CS 20 major cities without seasonal adjustment of the annual rate of the House Price Index
⑤22:0 0JOLTs job vacancy in the United States in June
⑥22:00US July Consulting Chamber of xmserving.commerce Consumer Confidence Index
⑦The next day, 04:30USA to July 25th API crude oil inventories
The above content is about "[XM Foreign Exchange Decision Analysis]: The US dollar index rose sharply, Trump urged the Federal Reserve to cut interest rates" and was carefully xmserving.compiled by the editor of XM Foreign Exchange. I hope it will be helpful to your transactions! Thanks for the support!
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