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The US dollar index returns to the 98 mark, and gold and silver both rise again
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The US dollar index returns to the 98 mark, and both gold and silver rise again." Hope it will be helpful to you! The original content is as follows:
On September 3, in the early trading of Asia on Wednesday, Beijing time, the US dollar index hovered around 98.41. On Tuesday, the U.S. dollar index closed higher for the first time in six trading days, eventually closing up 0.66% to 98.327 as the long-term yields rose. U.S. Treasury yields generally rose, with the benchmark 10-year U.S. Treasury yields closed at 4.263%, and the 2-year U.S. Treasury yields sensitive to Fed policy interest rates closed at 3.652%. Thanks to the rise in risk aversion sentiment and interest rate cut expectations, spot gold rose for six consecutive days, once approaching the $3,540 mark during the session, setting a new record high, and finally closed up 1.64% to $3,533.43/ounce; spot silver's upward trend converged, and finally closed up 0.37% to $40.89/ounce. International crude oil continues to rise as the United States releases the latest round of sanctions to crack down on Iran's oil exports and OPEC+ does not expect to cancel the remaining voluntary production cuts this week. WTI crude oil remained above the $65 mark and finally closed up 1.46% to $65.37 per barrel; Brent crude oil finally closed up 1.38% to $69 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovered at US$98.41. The U.S. dollar index ended its five-day negative decline on Tuesday, supported by a sharp rebound in the U.S. yield curve. Usually weekly MBA mortgage applications expire before the release of JOLT job openings, factory orders, Fed Beige Book and API’s U.S. crude oil inventories weekly report. In addition, the Federal Reserve's Mousalem and Kashkali will also make speeches. Technically, the U.S. dollar index is trying to close above resistance at 98.00–98.20. If this tastesIf the test is successful, the US dollar index will move to the next resistance level 99.20–99.40.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
In the Asian session on Wednesday, gold hovered around 3540.60. Gold surged to an all-time high above $3,500 on Tuesday, up more than 2% despite rising US dollar and rising U.S. Treasury yields. Although it is predicted that the Federal Reserve may cut interest rates in September, risk aversion predominates
2) Analysis of crude oil market trends
On Wednesday, crude oil trading was around 65.32. WTI rose slightly as concerns about supply disruptions intensified after Ukraine attacked Russian energy bases in the ongoing Russian-Ukrainian war. Ukrainian President FraKimir Zelensky said the country intends to go deeper into Russia after a massive drone attack caused 60,000 Ukrainians to cut off power. According to Reuters' calculations, Ukrainian drone attacks have closed facilities that account for at least 17% of Russia's oil processing capacity, or 1.1 million barrels per day. Worries that intensified air strikes in Russia and Ukraine could lead to supply disruptions could boost WTI prices.
Forex market trading reminder on September 3, 2025
①09:30Australia's second-quarter GDP annual rate
②09:45China's August RatingDog Service Industry PMI
③15:30 European Central Bank President Lagarde delivered a speech
④15:50France August Service Industry PMI final value
⑤15:55German August Service Industry PMI final value
⑥16:00Eurozone August Service Industry PMI final value
⑦16:00RBA Chairman Brock delivered a speech
⑧16:30Eurozone August Service Industry PMI final value
⑨17:00Eurozone July PPI monthly rate
⑩21:00 Fed Mousalem delivered a speech
21:15 Bank of England officials attended the hearing
22:00 US JOLTs job vacancy in July
22:00 US July factory order monthly rate
The next day 01:30 US next day 01:30 US Cryokali attended the fireside conversation
The next day 02:00 US economic status Beige Book
The next day 04:30 US to August 29th API crude oil inventories
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