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The US dollar hovered below the 98 mark, and Trump's 30% tariff stick hit the EU and Mexico!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: The US dollar hovers below the 98 mark, and Trump's 30% tariff stick hits the EU and Mexico!". Hope it will be helpful to you! The original content is as follows:
On July 14, early trading in the Asian market on Monday, Beijing time, the US dollar index hovered around 97.82. Last Friday, the US dollar index fluctuated in range, always hovering below the 98 mark, and finally closed up 0.307% to 97.85, with a cumulative increase of nearly 1% throughout the week, leaving the three-year low. The yield on the U.S. Treasury rose sharply, with the benchmark 10-year U.S. Treasury yield closing at 4.412%, and the 2-year U.S. Treasury yield closing at 3.91%. As risk aversion sentiment heated up after Trump announced more tariff letters, spot gold rose for the third consecutive day, hitting its highest level since June 24 during the session, and finally closed up 0.99% to close at $3,355.91/ounce; spot silver rose more significantly, eventually closing up 3.56% to $38.38/ounce, a new high since September 2011. As the oil market focus shifts to potential U.S. sanctions on Russia, the two oils rose intraday. WTI crude oil station rose 2.55% to $67.59 per barrel; Brent crude oil closed up 2.53% to $70.04 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 97.82. Entering July, the US dollar index rebounded from its year-on-year low of 96.37 (July 1) to around 98.00, ending its two consecutive weeks of decline. The US Treasury yields remained at a high range, and the stable performance of economic data such as non-farm employment in June provided support for the US dollar. According to data from the U.S. Department of Labor, non-farm employment added 206,000 new jobs in June, slightly exceeding market expectations, and the unemployment rate remained at 4.1%, indicating that the US economy remains resilient. Technically, US dollarsThe index's most recent important resistance level is in the range of 98.00–98.20. If the U.S. dollar index climbs above the 98.20 level, it will move towards the next resistance level of 99.20–99.40.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
On the Asian session on Monday, gold hovered around 3372.5. Trump announced last weekend that he would impose a 30% tariff on goods imported from the EU from August 1, further raising market concerns about international trade and providing momentum for gold prices. After a calm week after Independence Day, the market will resume a more conventional pace of economic data this week. The June CPI report and New York manufacturing survey will be released Tuesday, followed by June PPI data released on Wednesday. Traders will focus on June retail sales reports, Philadelphia Fed manufacturing survey and weekly unemployment benefits filing data on Thursday. June housing starts and a preliminary survey of consumer confidence at the University of Michigan will be released Friday morning. valueIt must be mentioned that US President Trump plans to issue a "major statement" on the Russian issue on Monday, and investors also need to pay attention. In addition, the market is concerned about the speeches of several Fed officials, the Fed's Beige Book; speeches by the Bank of England governor and Treasury Secretary, and a two-day meeting of G20 Treasury Secretary and Central Bank governors that began on Thursday (July 17-18).
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 67.34. After a calm week after Independence Day, the market will resume a more conventional pace of economic data this week. The June CPI report and New York manufacturing survey will be released Tuesday, followed by June PPI data released on Wednesday. Traders will focus on June retail sales reports, Philadelphia Fed manufacturing survey and weekly unemployment benefits filing data on Thursday. June housing starts and a preliminary survey of consumer confidence at the University of Michigan will be released Friday morning. It is worth mentioning that US President Trump plans to issue a "major statement" on the Russian issue on Monday, and investors also need to pay attention. In addition, the market is concerned about the speeches of several Fed officials, the Fed's Beige Book; speeches by the Bank of England governor and Treasury Secretary, and a two-day meeting of G20 Treasury Secretary and Central Bank governors that began on Thursday (July 17-18).
Forex market trading reminder on July 14, 2025
① To be determined Trump issued a statement on the Russian issue
② To be determined China's June trade account
③15:00 State Information Office held a press conference
④20:30 Canada's May wholesale sales monthly rate
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