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US dollar index fluctuates higher, US labor data weak and consumer confidence sluggish
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: The US dollar index fluctuates and rises, the US labor data is weak, and consumer confidence is sluggish." Hope it will be helpful to you! The original content is as follows:
On April 30, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 99.18. On Tuesday, supported by hopes of the U.S. trade agreement, the U.S. dollar index fluctuated higher, returning to above the 99 mark, and finally closed up 0.28% to 99.21. U.S. Treasury yields plummeted after poor performance in U.S. economic data, with the benchmark 10-year U.S. Treasury yields closed at 4.181%; and the two-year U.S. Treasury yields, which are more sensitive to monetary policy, closed at 3.656%. As risk aversion sentiment cooled down, spot gold fell back and fell below the $3,300 mark during the session, and finally closed down 0.81% at $3,317.25 per ounce. Spot silver rose first and then fell, and the US market gave up all the gains in the day, and finally closed down 0.69% at $32.93 per ounce. International crude oil plummeted as signs of pressure on U.S. economic data hit demand outlook. WTI crude oil fell continuously, breaking the 61 and 60 marks in succession, and finally closed down 2.84% to $59.93 per barrel, hitting a new low in the past three weeks; Brent crude oil closed down 2.48% to $63 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 99.18. A modest gain was shown Tuesday after weak labor market and consumer confidence data raised expectations of policy easing. Despite strong trade headlines and stock markets, the index remains under pressure. Technically, the most recent support level of the US dollar index is in the range of 98.80–99.00. A break below the 98.80 level will push the U.S. dollar index to the next support level 97.50–97.70.
Gold and crude oil market trend analysis
1)Gold market trend analysis
Which gold trading was around 3323.23. The precious metal fell slightly due to ease of trade tensions and improved global market risk sentiment. Traders will pay attention to changes in the U.S. ADP employment, personal consumption expenditure price index (PCE) and preliminary first-quarter GDP reports, which will be released later on Wednesday.
2) Analysis of crude oil market trends
On Wednesday, crude oil trading was around 59.98. International oil prices encountered "Black Tuesday", with Brent crude oil and WTI crude oil both falling more than 2.5%, setting the lowest closing price in two weeks. The market continues to pay attention to the progress of trade negotiations, and US Treasury Secretary Bescent said that no trade agreement will be reached until Trump announces it. In addition, Trump needs to approve 18 key trade agreements and he is participating in relevant negotiations.
Forex market trading reminder on April 30, 2025
09:30 China's official manufacturing PMI in April
09:30 Australia's first quarter CPI annual rate
09:30 Australia's March weighted CPI annual rate
09:45 China's April Caixin Manufacturing PMI
13:30 France's first quarter GDP annual rate
14:00 UK April Nationwide House Price Index Monthly Rate
14:45 France April CPI Monthly Rate Initial Value
15:00 Switzerland April KOF Leading Economic Indicator
15:55 Germany April Seasonally Adjusted Unemployed and Unemployment Rate
16:00 Germany First Quarterly Unadjusted Annual Value
16:00 Switzerland April ZEW Investor Confidence Index
17:00 Eurozone's First Quarter GDP Annual Rate Initial Value
20:00 German April CPI Monthly Rate Initial Value
20:15 US April ADP Employment Number
20:30 Canada February GDP Monthly Rate
20:30 US First Quarter Labor Cost Index Quarterly Rate
20:30 US First Quarterly GDP and PCE annualized quarterly rate
20:30 The US Treasury Department released its quarterly refinancing statement
21:45 The US Chicago PMI (Jinshi Data APP) in April
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