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Hello everyone, today XM Forex will bring you "[XM Group]: A collection of good and bad news affecting the foreign exchange market". Hope this helps you! The original content is as follows:
Federal Reserve officials released a signal to cut interest rates: New York Fed President Williams supports further cutting interest rates during the year to deal with the risk of a sharp slowdown in the labor market. This statement strengthened market expectations for the Federal Reserve to cut interest rates, which helped to weaken the U.S. dollar and benefit other currencies.
The Central Bank of Peru maintained its benchmark interest rate unchanged: On October 10, the Central Bank of Peru maintained its benchmark interest rate at 4.25%. Maintaining the current interest rate level is conducive to stabilizing the exchange rate of the Peruvian currency and providing certain support for the stability of relevant currency pairs in the foreign exchange market.
The U.S. government shutdown may affect U.S. dollar confidence: The U.S. government shutdown has entered its second week. This situation may affect the release of relevant energy data and policy formulation, thereby affecting the market's confidence in the U.S. dollar. Although the market is still observing its impact, in the long term, the uncertainty of the government shutdown may put some pressure on the US dollar and benefit other currencies.
The European Central Bank maintains its interest rate policy: The minutes of the European Central Bank's September meeting showed that the current inflation level and outlook assessment are "basically in line with the medium-term target orientation", and there is no need to intervene in market supply and demand through interest rate adjustments. This means that the European Central Bank may not adopt easing policies such as interest rate cuts in the short term, which to a certain extent limits the room for the euro to rise and is negative for the euro.
The policy outlook of the Bank of Japan is unclear: Investors are worried that Sanae may start a new round of fiscal easing cycle after her unexpected victory in the election of the ruling Liberal Democratic Party, which will put policy pressure on the Bank of Japan and force it to continue its loose monetary policy stance. Affected by this, the Japanese yen continued to decline, which was negative for the Japanese yen.
American Republican PartyThe bill proposed to end the government shutdown failed to pass: On October 9, local time, the bill proposed by the U.S. Republican Party to end the U.S. government shutdown failed to obtain enough votes in the Senate and the bill failed to pass. This has continued the U.S. government shutdown, increased market uncertainty, is not conducive to risk assets, and has also put a certain amount of pressure on the U.S. dollar.
The U.S. dollar index strengthened: Affected by factors such as the weakening of the Japanese yen and the euro, the U.S. dollar index rose 0.55% to 99.40, the highest level since August. The strength of the U.S. dollar makes other currencies relatively weaker, which is negative for non-U.S. currencies. For example, the EURUSD fell 0.56% to 1.1564, the GBP/USD fell 0.75% to 1.3303, and the AUD/USD fell 0.50% to 0.6554.
The political situation in France affects the euro: Affected by the political situation in France, the euro weakens. Concerns about political instability in France have dragged down the trend of the euro, causing it to perform poorly in the foreign exchange market, which is negative for the euro.
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