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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn Official Website]: US fiscal concerns put pressure on the US dollar, and gold prices are close to the two-week high." Hope it will be helpful to you! The original content is as follows:
On May 23, the US dollar (USD) struggled to hold its www.avaforexcn.competitors' positions on Friday after a slight increase on Thursday. The European Central Bank (ECB) will release the first-quarter agreement wage rate data. Later that day, April new home sales data will be the only data in the U.S. economic calendar. As the weekend begins, investors will continue to pay close attention to the speeches of central bank policymakers.
U.S. President Donald Trump's www.avaforexcn.comprehensive tax and spending bill passed by a narrow margin Thursday in the Republican-controlled House. The Senate is expected to begin discussing the bill after the May 26 Memorial Day holiday and vote on it by July 4. The benchmark 10-year Treasury yield fell more than 1% on Thursday, and finally www.avaforexcn.com fell slightly to 4.5% at a time.
Meanwhile, the U.S. dollar index remained at a negative area around 99.50 after a slight increase on Thursday. Data released by S&PGlobal shows that economic activity in the U.S. private sector accelerated its expansion in May, with the www.avaforexcn.comprehensive purchasing managers index (PMI) rising to 52.1 from 50.6 in April. Finally, U.S. stock index futures rose slightly in early European trading.
Basic foreign exchange market trends:
Euro/USD benefited from the softening of the US dollar again, and it was easily traded above 1.1300 on Friday.
GBP/USD SavingsThe momentum is ready to go, and Trading Investment has reached its highest level since February 2022 around 1.3500.
The US dollar/JPY remained low and fell to 143.00 in early Friday. Japanese Prime Minister Shigeru Ishiba reiterated on Friday that Japan's position on U.S. tariffs and its requirements for eliminating tariffs have not changed. In addition, Reuters reported that Japanese Minister of Economic Affairs Ryose Akazawa plans to visit the United States for the fourth round of talks around May 30.
Bulle market fundamentals:
Gold prices remained intraday bullish in the first half of the European session on Friday, and are currently slightly below the two-week highs hit the previous day.
Analysis of major currency trends:
Euro: The intraday bias of the euro/dollar remains neutral, and more consolidation may be seen below the temporary top of 1.1362. As long as the 1.1216 support level is held, it is expected to rise further. The correction from 1.1572 may have been www.avaforexcn.completed in 1.1064. Above 1.1362 will first retest 1.1572. A resolute breakthrough will restore a larger upward trend. The next near-term target will be the 61.8% forecast of 1.0176 to 1.1572, from 1.1064 to 1.1927. However, a breakout of 1.1217 will redirect bias to the downside of 1.1064 support.
The above content is all about "[Ava Aihua Forex Official Website]: The US fiscal concerns put pressure on the US dollar, and the gold price is close to the two-week high". It was carefully www.avaforexcn.compiled and edited by the Avatrade Forex editor. I hope it will be helpful to your transaction! Thanks for the support!
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