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Hello everyone, today XM Forex will bring you "[XM Forex Decision Analysis]: The Federal Reserve cuts interest rates by 25 basis points as scheduled, and spot silver reaches a new high!". Hope this helps you! The original content is as follows:
On December 11, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 98.60. On Wednesday, the Federal Reserve cut interest rates by 25 basis points as scheduled and will conduct $40 billion in www.xmtdhf.cn asset purchases this month. The U.S. dollar index fell amid violent fluctuations and finally closed down 0.60% at 98.65; the benchmark 10-year U.S. bond yield finally closed at 4.1550%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.5530%. After the Federal Reserve announced its third consecutive interest rate cut, spot gold once returned above $4,230, eventually closing up 0.48% at $4,228.55 per ounce. Spot silver rose by more than $1 during the day, continuing to hit a record high, and finally closed up 1.89% at $61.81 per ounce. Oil prices reversed losses and closed higher after the United States seized an oil tanker off the coast of Venezuela. WTI crude oil previously fell by more than 1%, and finally closed up 0.93%, at US$58.82/barrel; Brent crude oil finally closed up by 0.84%, at US$62.49/barrel.
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.60. Putting further pressure on the dollar were www.xmtdhf.cnments from Federal Reserve Chairman Jerome Powell. He made it clear at the press conference that policymakers' "baseline scenario" does not include future interest rate hikes, saying the next move is "unlikely to be a rate hike." Notably, the interest rate futures market is still pricing in two rate cuts in 2026, although the median Fed's latest "dot plot" forecast shows policymakers expect just one rate cut (25 basis points) in 2026, consistent with the September forecast. The market currently believes that the probability of the Fed keeping interest rates unchanged in January next year is 78%%. Analysts noted that concerns about slowing economic growth and a cooling labor market are offsetting the Federal Reserve's cautious approach to inflation, which together are contributing to the dollar's weakness. Technically, the nearest support level for the U.S. dollar index is between 98.85 and 99.00. A break below the 98.85 level will push the dollar index towards the next support level of 98.00 to 98.15.
In the Asian market on Wednesday, gold hovered around 4238.71. The precious metal's upside has improved after the U.S. Federal Reserve (Fed) is expected to cut interest rates for the third consecutive time and maintains its forecast of only one rate cut in 2026. Traders will focus on weekly first-time U.S. jobless claims data later on Thursday.
On Wednesday in the Asian market, crude oil was trading around 58.58. The EIA reported that U.S. www.xmtdhf.cnmercial crude oil inventories fell by 1.812 million barrels in the week ended December 5, a larger than expected decline of 1.2 million barrels, reversing the 574,000 barrel increase in the previous week. Market focus has now turned to OPEC's monthly oil market report due on Thursday, with traders looking at the latest forecasts for global demand, production trends and the supply outlook for 2026.
Pending OPEC’s monthly crude oil market report
15:00 The Ministry of www.xmtdhf.cnmerce holds a regular press conference
16:30 Swiss Central Bank Bank of England announces interest rate decision
17:00IEA releases monthly crude oil market report
17:50Bank of England Governor Bailey delivers a speech
21:30 Number of initial jobless claims in the United States in the week to December 6
21:30 US September trade balance
23:00 US September wholesale sales monthly rate
23:30 US EIA natural gas inventories for the week to December 5
? The next day at 01:00 the Federal Reserve announces household Financial Health
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