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US dollar suppresses below 98, US and Europe reach a trade agreement
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Official Website]: The US dollar is suppressed below 98, and the United States and Europe have reached a trade agreement." Hope it will be helpful to you! The original content is as follows:
On July 28, in the early trading of Asian market on Monday, Beijing time, the US dollar index hovered around 97.57. Last Friday, the US dollar index rebounded for the second consecutive day, finally closing up 0.219% to 97.66, but the weekly line still closed negative. U.S. Treasury yields rose and fell mixed, with the benchmark 10-year U.S. Treasury yields closed at 4.392%, and the 2-year U.S. Treasury yields closed at 3.94%. As signs of progress in US-EU trade negotiations suppressed safe-haven demand, spot gold fell for three consecutive days, hitting a new low for a week, and finally closed down 0.92%, closing at $3,337.18/ounce, erasing all the gains during the week; spot silver plunged in the US, once falling below the 38 mark, rebounded slightly in the late trading, and finally closed down 2.39% to $38.17/ounce. Some negative economic news and expectations of increased supply have led to a fall in international oil prices, but optimism about an international trade agreement that could boost global economic growth and future oil demand has limited the decline. WTI crude oil fell to a more than three-week low and finally closed down 1.67% at $64.85 per barrel; Brent crude oil closed down 1.41% at $67.6 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered at US$97.57. Boasted by strong economic data, these data suggest the Fed may remain patient in resuming interest rate cuts, coupled with progress in tariff negotiations that have made the trade situation clearer and eased market uncertainty. Although the US dollar index showed a short-term technical rebound, the overall trend is still suppressed by political risks and cautious expectations of central bank policies. The Fed's upcoming www.xmserving.comments are crucial. If Powell suggests maintaining interest rate stability over the long term or suggests a rate cut under political pressure, the dollar may struggle to maintain its recent gains. Technically, breaking through the resistance level 98.00–98.20 will push the US dollar index toward the next resistance level 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 3332.61. The gold market fluctuated sharply last week, with gold prices soaring in the first two trading days of this week, but then the gold price fell sharply, weakening for three consecutive trading days, and finally the gold price closed down this week. Analysts pointed out that positive progress has been reported in Trump's trade negotiations, and market risk appetite has rebounded, which has hit gold's safe-haven demand.
2) Analysis of crude oil market trends
On the Asian session on Monday, crude oil trading around 65.06. International oil prices fell to three-week lows last Friday, as sluggish economic data worried traders, and signs of supply growth continued to weigh on oil prices. "Oil prices are in a stalemate, mainly due to the lack of clear market drivers," said PVM analyst John Evans. People familiar with the matter revealed on Thursday that the United States is preparing to allow partners of Venezuelan state-owned oil www.xmserving.company PDVSA to operate locally, starting with Chevron.
Forex market trading reminder on July 28, 2025
①18:00 UK July CBI retail sales difference
②20:00 OPEC + Ministerial Supervision www.xmserving.committee was held
③22:30 US July Dallas Fed Business Activities Index
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