Trusted by over 15 Million Traders
The Most Awarded Broker
for a Reason
CATEGORIES
market news
The U.S. dollar index remains within a narrow range as the market awaits speeches by Fed officials
Wonderful introduction:
Without the depth of the blue sky, you can have the elegance of white clouds; without the magnificence of the sea, you can have the elegance of the creek; without the fragrance of the wilderness, you can have the greenness of the grass. There is no bystander seat in life. We can always find our own position, our own light source, and our own voice.
Hello everyone, today XM Forex will bring you "[XM Group]: The U.S. dollar index maintains a narrow range, and the market is waiting for the speech of Federal Reserve officials." Hope this helps you! The original content is as follows:
On Monday in Asian trading, the U.S. dollar index fluctuated around 99.66. The U.S. dollar came under pressure last Friday and recorded a weekly decline against the euro and the Japanese yen. Investors struggled to weigh the hawkish stance of the Federal Reserve against the concerns about the U.S. economy. Due to the ongoing shutdown of the federal government, the October employment report originally scheduled to be released last Friday was not released as scheduled, resulting in a lack of key economic data for the market to refer to, and U.S. bond yields fell slightly. Investors will need to continue to pay attention to speeches from Federal Reserve officials this week.
Analysis of major currency trends
U.S. dollar: As of press time, the U.S. dollar index is hovering around 99.66. The U.S. dollar index fell 0.15% last week, ending two consecutive weeks of gains. Analysts pointed out that although the U.S. dollar has recently regained some safe-haven appeal, the Japanese yen remains the market's preferred defensive currency. Although the U.S. dollar may rebound in the short term due to the relatively strong U.S. economy, current market sentiment remains weak.



1. The Senate is in a row: the recess is canceled and will meet again at 02:30 on Monday morning
The U.S. Senate was originally scheduled to enter the Veterans Day recess week from the 8th, but did not adjourn on the 8th. Members of the two parties stayed in Washington to continue negotiations on ending the government "shutdown". The Democratic Party revealed that if the two parties reach an agreement, senators will be notified 24 hours before the vote to read the text of the bill. Members need to keep their schedules flexible so that they can return to vote at any time. Senate Republican leader John Thune said on the 8th that he was working hard to reach an agreement with Democratic senators and hoped to restore the government's operations through a "consolidated appropriation package" containing three full-year appropriation bills. Thune said that the draft is "almost xmserving.complete" and hopes to vote as soon as possible but only if "there are enough votes." He also revealed that the two sides have launched "active cross-party dialogue" in the past 24 hours and is optimistic about the progress of the negotiations. The Senate adjourned until 13:30 local time on Sunday, which corresponds to 02:30 Monday morning Beijing time.
2. The U.S. Senate Democrats push for an appropriation plan to end the government shutdown crisis
According to reports from the AXIOS website, several U.S. Senate Democratic members said on Sunday that they are ready to advance a xmserving.comprehensive bill to break the government shutdown deadlock that has lasted for more than a month. The move is seen as the most groundbreaking development to date in negotiations between the two parties. Sources pointed out that at least 10 Democratic senators are expected to support a procedural motion to promote solutions including a spending package and a short-term appropriation measure that will allow the federal government to maintain operations until the end of January next year.It is reported that the agreement also includes a vote in December on the Democratic proposal to extend the Affordable Care Act (ACA) tax credits for one year, and may include provisions to assist federal employees who have lost their jobs due to the government shutdown. In a rare weekend meeting in Washington, senators are expected to hold key votes on procedural motions on the government funding package on Sunday.
3. The U.S. Senate failed to advance the appropriation bill, and federal employees continued to be without pay
On November 7, local time, the U.S. Senate failed to pass the motion to advance the "Specific Federal Employees Appropriation Bill" (S.3012) by a vote of 53 to 43, failing to reach the 60 vote threshold required for passage. The bill aims to provide funding to some federal employees who still need to perform their duties during the forced shutdown to cushion the impact of the government shutdown. Although some lawmakers called for the restoration of funds for key departments as soon as possible, the final voting results showed that the differences between the two parties remained and the government "shutdown" will not be lifted for the time being.
4. The government shutdown triggered a wave of layoffs, leaving a vacuum in U.S. official data
The government shutdown directly led to the absence of official employment data, and traders were forced to turn to private sector reports. These data show that the U.S. economy slashed jobs in the government and retail sectors in October, and cost control and artificial intelligence applications pushed the number of layoffs to a peak. Franklin economist Mohit Kumar warned that the December meeting is as uncertain as a coin toss, everything depends on labor market signals, and the current data desert makes the market overreact to any disturbance. He emphasized that Federal Reserve Chairman Powell's remarks last month had raised the threshold for an interest rate cut in December, and the road to easing in the short term was full of thorns.
5. Bessant said that the $2,000 "tariff subsidy" may be achieved through tax cuts
U.S. Treasury Secretary Bessant said that the "tariff revenue subsidy of at least $2,000 for each American" mentioned by Trump may be achieved through tax cuts in the landmark economic policy bill passed earlier this year. Bessant said he has not yet spoken to Trump about the idea, but added: "This $2,000 payment could xmserving.come in many forms. It could xmserving.come from tax cuts that are moving forward on the president's agenda, such as the tip tax exemption, the overtime tax exemption, the Social Security tax exemption, or the car tax exemption." The interest on the loan is deductible. ”
Institutional view
1. Goldman Sachs: UK GDP is expected to contract by 0.1% month-on-month in September
The Goldman Sachs research report pointed out that we expect UK GDP data to shrink by 0.1% month-on-month. Although retail sales increased 0.5% month-on-month, we saw momentum weakening in other areas of the services sector as survey data was weaker, including a decline in the Services PMI to 50.8. Furthermore, we expect a contraction in the production sector after a strong performance in August. In particular, we expect results to be weighed down by Jaguar Land Rover's production shutdown, which has resulted in a significant decline in monthly vehicle production and impacted the wider supply chain. Our estimates suggest Q3 GDP growth of 0.2% QoQ, in line with the Bank of EnglandThe estimates are consistent.
2. Societe Generale: German bond yields are expected to rise moderately in 2026
Societe Generale's interest rate strategists believe that German government bond yields may rise moderately in 2026, but some prerequisites need to be met for the 10-year German bond yield to exceed 3%. Specifically, the strategists said: "To break through 3%, the European Central Bank will need to raise interest rates further and continue to accumulate term premiums." They pointed out that the accumulation of term premiums will be the main factor driving the steepening of the two-year and 10-year Treasury yield curves.
3. Nomura Securities: The Bank of England is expected to xmserving.complete this round of interest rate cuts in April next year
Nomura Securities previously predicted that the Bank of England would cut interest rates this week, but the expectation did not xmserving.come true. Nomura Securities pointed out in a report released before the meeting that if the Bank of England implements an interest rate cut in November, it will only cut interest rates once again in February next year. However, after the Bank of England meeting yesterday, Nomura Securities has moved back its expectations for the final timing of an interest rate cut. It is expected that the Bank of England will end the current interest rate cut cycle in April next year, and the next interest rate cut is expected to be in December. Nomura's forecast for terminal interest rates remains unchanged at 3.50%.
The above content is all about "[XM Group]: The U.S. dollar index maintains a narrow range of fluctuations, the market is waiting for the speech of Federal Reserve officials". It is carefully xmserving.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
Spring, summer, autumn and winter, every season is a beautiful scenery, and they all stay in my heart forever. Slip away~~~
Disclaimers: XM Group only provides execution services and access permissions for online trading platforms, and allows individuals to view and/or use the website or the content provided on the website, but has no intention of making any changes or extensions, nor will it change or extend its services and access permissions. All access and usage permissions will be subject to the following terms and conditions: (i) Terms and conditions; (ii) Risk warning; And (iii) a complete disclaimer. Please note that all information provided on the website is for general informational purposes only. In addition, the content of all XM online trading platforms does not constitute, and cannot be used for any unauthorized financial market trading invitations and/or invitations. Financial market transactions pose significant risks to your investment capital.
All materials published on online trading platforms are only intended for educational/informational purposes and do not include or should be considered for financial, investment tax, or trading related consulting and advice, or transaction price records, or any financial product or non invitation related trading offers or invitations.
All content provided by XM and third-party suppliers on this website, including opinions, news, research, analysis, prices, other information, and third-party website links, remains unchanged and is provided as general market commentary rather than investment advice. All materials published on online trading platforms are only for educational/informational purposes and do not include or should be considered as applicable to financial, investment tax, or trading related advice and recommendations, or transaction price records, or any financial product or non invitation related financial offers or invitations. Please ensure that you have read and fully understood the information on XM's non independent investment research tips and risk warnings. For more details, please click here