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Hello everyone, today XM Forex will bring you "[XM Forex]: Trump may reduce tariffs on some goods, and the Federal Reserve's decision is about to take place." Hope this helps you! The original content is as follows:
In early trading in Asia on December 10, spot gold was trading around US$4,210 per ounce. On the eve of the Federal Reserve's upcoming interest rate decision, precious metals performed strongly. Spot silver rose sharply by 4.2% on Tuesday, breaking through the US$60 per ounce mark for the first time. U.S. crude oil was trading around US$58.40 per barrel. Oil prices fell on Tuesday. The market focused on the progress of peace negotiations between Russia and Ukraine, sufficient supply, and the upcoming Federal Reserve interest rate decision.
The U.S. dollar rose on Tuesday, as the market focused on U.S. economic data and central bank moves ahead of the Federal Reserve's upcoming interest rate decision. Better-than-expected U.S. job openings data for October highlighted the resilience of the labor market and solidified expectations that the Federal Reserve will maintain a hawkish stance even if it cuts interest rates, thereby supporting the dollar. The U.S. dollar index rose 0.1% to 99.21.
All eyes are focused on the upcoming Federal Reserve interest rate decision. The market is generally expected to cut interest rates by 25 basis points, but traders are more concerned about the "dot plot" it released for guidance on the future path of interest rates, and whether Chairman Powell will set a higher threshold for subsequent interest rate cuts. Investors are also lowering expectations for a significant interest rate cut in 2026.
The U.S. dollar climbed to near a two-week high against the yen, rising 0.6% to 156.845; the euro fell 0.1% against the U.S. dollar to 1.1629. The Australian dollar rose. The Reserve Bank of Australia kept interest rates unchanged on Tuesday and clearly ruled out the possibility of further interest rate cuts. Its hawkish stance pushed the Australian dollar up 0.3% against the US dollar to 0.6641.
After a strong earthquake occurred in northeastern Japan, the yen briefly fell into risk aversion during Asian trading hours.Sentiment strengthened but then gave up gains.
China's National Bureau of Statistics reported on Wednesday that China's consumer price index (CPI) rose 0.7% in November from a year earlier, after rising 0.2% in October. The market consensus was 0.7% during the reporting period. China's CPI inflation rate was -0.1% month-on-month in November, www.xmtdhf.cnpared with 0.2% previously. China's producer price index (PPI) fell 2.2% year-on-year in November, after falling 2.1% in October. The data was higher than the market consensus of -2.0%.
The Reserve Bank of Australia kept interest rates unchanged at 3.6% as scheduled, emphasizing the risk of upward inflation. The market expected that the interest rate cutting cycle may have ended.
Trump: Tariffs on some overpriced goods may be reduced; an immediate interest rate cut is the "touchstone" for selecting the new chairman of the Federal Reserve.
British media: Trump will launch the final round of interviews for the chairman of the Federal Reserve this week, with Hassett leading the way. Officials also raised the possibility of Hassett's term being shortened.
Hassett: The Fed has ample room to significantly cut interest rates and will make interest rate decisions based on my judgment.
U.S. job openings rose to the highest level in five months in October, but hiring continues to be sluggish.
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