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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange]: Overall sideways consolidation, risk aversion demand and Fed easing risk game". Hope it will be helpful to you! The original content is as follows:
XM Forex APP News--During the European trading session on Wednesday (September 3), the US dollar index (DXY) hovered around 98.33. Safe-haven flows support the dollar as investors seek stability before key U.S. economic data are released. The current geopolitical tensions continue and the overall market tone is cautious, which allows the demand for the dollar to be maintained before the release of JOLTS job opening data and the Federal Reserve Beige Book. The expectation of a Fed rate cut puts pressure on the US dollar. Although there is a demand for safe-haven, the market's expectations for the Fed's interest rate cut in September have continued to heat up, and the US dollar still faces downward risks. Dovish remarks made by Fed officials further reinforce this view. According to the CME Fed Watch Tool, the probability of the Fed's 25 basis points cut rate in September has risen to 91% from 85% a week ago. The July non-farm employment report showed that the number of new jobs was lower than expected, further supporting the reason for the Federal Reserve to implement a loose policy. Currently, traders are waiting for August non-farm employment data released on Friday - a market forecast that it will show that only 75,000 new jobs are created and the unemployment rate is 4.3%. If the data shows that the labor market is weaker, it may put more pressure on the Fed, forcing it to take action to cut interest rates. Trade policies intensify uncertainty trade risks also suppress market sentiment. The U.S. Federal Court of Appeal issued an adverse ruling on tariffs imposed during the previous government period, which once again raised market doubts about trade stability. Given the possible legal challenges in the future, uncertainty in trade policy may limit the upside space of the US dollar in the short term. Technical analysis (
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