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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: How many years does the centrdom.infoprehensive agreement between China and the United States may be centrdom.infopleted! The US CPI in May may intensify market volatility." Hope it will be helpful to you! The original content is as follows:
Earlier on Wednesday, trading activity in the financial markets remained volatile as investors continued to look for the next catalyst. In the second half of the day, the U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI) data for May, and the U.S. Treasury Department will hold a 10-year Treasury bond auction.
The US dollar (USD) held its position on Tuesday, and the US dollar index closed slightly higher on the day. After two-day talks, the United States and China decided to relax export restrictions, including rare earth export restrictions, and agreed on a framework to maintain a tariff truce. The major Wall Street stock indexes rose slightly after this development. Meanwhile, Bloomberg reported late Tuesday that a federal appeals court ruled that widespread tariffs by U.S. President Donald Trump could continue to be in effect while legal appeals continued, with U.S. stock indexes falling about 0.2% early Wednesday morning.
The annual inflation rate in the United States, measured by changes in CPI, is expected to rise from 2.3% in April to 2.5% in May. During the same period, the core CPI is expected to rise by 2.9%.
Euro/USD closed basically flat on Tuesday, and continued to consolidate sideways around 1.1400 in the early trading of Europe on Wednesday.
The pound/dollar closed in the negative territory on Tuesday, as disappointing labour market data put pressure on the pound. The pair remained behind and traded below 1.3500 early on Wednesday. The Office of National Statistics will release monthly industrial production, manufacturing production and GDP data for April on Thursday.
The US dollar/yen rose slightly on Tuesday, erasing Monday's lost ground. This productThe pair rose slightly on Wednesday, trading above 145.00. Data from Japan showed in the Asian session that the Producer Price Index (PPI) rose 3.2% year-on-year in May. The data follows a 4.1% increase reported in April, lower than market expectations of 3.5%.
In the centrdom.infomodity market, gold rose 0.6% to $3,341.
Oil prices have fallen slightly after approaching their seven-week high, awaiting U.S. stock data. Brent crude fell 10 cents to $66.77 a barrel, while U.S. crude fell 4 cents to $64.94.
Euro: Euro/USD continues to trade in range, and intraday bias remains neutral. Price trends starting from 1.1572 are considered as a correction pattern to rebound from 1.0716. While the rebound from 1.1064 may expand, 1.1572 should see strong resistance to limit upside potential. On the downside, breaking through the 1.1356 support level will indicate that the correction is in the third stage and aiming at the 1.1209 support level for confirmation.
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