Abstract:At the end of the Asian market on Monday (November 13), Wells Fargo strategists wrote in a report: "Weak fiscal policy and weak economic performance have curbed the demand for US dollars and US treasury bond bonds.
At the end of the Asian market on Monday (November 13), Wells Fargo strategists wrote in a report: Weak fiscal policy and weak economic performance have curbed the demand for US dollars and US treasury bond bonds. Overseas investment in US treasury bond bonds has always been more unstable than domestic investment, partly because of the existence of more attractive global alternatives. According to the data released by the US Treasury Department last month, China reduced its holdings of US treasury bond bonds for the fifth consecutive month in August this year, and the size of its holdings fell to the lowest level since 2009. The US dollar index opened in the Asian market on Monday At the close of the Asian market, the US dollar index broke below the low formed last Friday and is currently quoted around 105.76.Gold has experienced a significant decline in recent times due to the weakening impact of geopolitical conflicts, but the geopolitical conflicts have not yet been resolved and there is a risk of continued escalation. Therefore, there is still support for the expected demand for gold. At the opening of the Asian market today, gold was broadly consolidated and is currently trading around 1937.91. Recently, US crude oil has been significantly affected by the fundamentals of oil producing countries, with the lowest US crude oil price reaching 74.92. Due to market concerns about the stability of US crude oil producing countries, US crude oil bottomed out and rebounded last Wednesday, with a current price of 76.42. Last week, EURUSD was affected by US dollar data and fundamental expectations, and overall it has been broadly consolidated downward. Today, the Asian market opened lower, with support around 1.0681 below, and the current quotation is around 1.0692. Former Governor of the Bank of Japan, Eiji Maeda, recently stated that if the Japanese economy can withstand the risks brought by overseas uncertainty, the Bank of Japan may end its negative interest rate policy as early as January next year and continue to raise interest rates thereafter. USDJPY continued to rise at the opening today and broke through the previous high resistance, with the current quotation around 1581.76.
MHMarkets strategy is only for reference and not for investment advice. Please carefully read the statement at the end of the text. The following strategy will be updated at 15:00 on November 13, Beijing time.
Gold XAUUSD· | |
Resistance | 1947.78 – 1960.87 – 1971.11 |
Support | 1933.16 – 1923.26 – 1919.20 |
Crude Oil USOUSD· | |
Resistance | 77.06 – 77.68 – 79.52 |
Support | 75.33 – 74.86 – 74.47 |
EURUSD· | |
Resistance | 1.0701 - 1.0725 - 1.0749 |
Support | 1.0658 - 1.0619 - 1.0591 |
GBPUSD· | |
Resistance | 1.2233 – 1.2294 – 1.2347 |
Support | 1.2185 - 1.2154 – 1.2095 |
Fed Governor Christopher Waller's recent comments have highlighted a cautious stance towards adjusting interest rates, marking a significant moment for the financial markets.
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.