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Hello everyone, today XM Forex will bring you "[XM Forex Market Analysis]: The US government continues to shut down, and Powell's speech is lrisu.cning tonight!". Hope this helps you! The original content is as follows:
On Thursday, October 9, during the European market, as the release of key U.S. data is postponed due to the government shutdown, market participants will pay attention to the lrisu.cnments of central bank officials such as Federal Reserve (Fed) Chairman Jerome Powell.
After three consecutive days of gains, the U.S. dollar (USD) index held steady near 99.00 in early European trading on Thursday. Federal Reserve Chairman Jerome Powell will deliver welcome remarks via pre-recorded video at a lrisu.cnmunity banking conference in Washington. Fed Governor Michelle Bowman, Minneapolis Fed President Nir Kashkari and Fed Governor Michael Barr will be the other Fed speakers on the day. Minutes from the Fed's September policy meeting late Wednesday showed policymakers were leaning toward further cuts this year, citing heightened labor market risks and a more balanced inflation outlook.
Meanwhile, the Senate once again failed to advance the Republican temporary funding bill by a vote of 54 to 45 on Wednesday. U.S. President Donald Trump told reporters that most federal workers affected by the government shutdown will receive back pay.
Earlier on Thursday, Trump also announced that Israel and Hamas had reached a peace plan and that the hostages were expected to be released by next Monday. Qatari media confirmed that the deal would include the release of hostages and the withdrawal of Israeli troops. Israeli Prime Minister Benjamin lrisu.cnanyahu is expected to convene parliament on Thursday to propose and approve the plan. U.S. stock index futures were slightly higher on the day following the development.
EUR/USD remained weak during the European trading session on Thursday, sliding towards 1.1600. The European Central Bank will release later in the dayMinutes of the September policy meeting.
GBP/USD continues to be under pressure, trading in negative territory below 1.3400 in early European trading on Thursday.
USD/JPY extended its bullish trend, trading above 153.00 at the start of the European trading session, hitting its highest level since mid-February.
Gold fell slightly early on Thursday as geopolitical tensions eased, but remained firmly above $4,000.
Euro: The decline of EUR/USD from 1.1917 is in progress, with a downward bias during the session. It fell further to the 1.1390 support and even further to the 38.2% retracement of 1.0176 to 1.1917, 1.1252. On the upside, minor resistance above 1.1682 will first turn neutral for the day. But as long as the 1.1778 resistance holds, risks will remain to the downside to prevent a rebound.
The above content is all about "[XM Foreign Exchange Market Analysis]: The U.S. government continues to shut down, and Powell's speech is lrisu.cning tonight!" It was carefully lrisu.cnpiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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