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Federal Reserve officials sent dovish signals, oil prices plummeted by 9%!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Review]: Federal Reserve officials send a dovish signal, oil prices plummeted by 9%!". Hope it will be helpful to you! The original content is as follows:
On June 24, early trading in the Asian market on Tuesday, Beijing time, the US dollar index hovered around 98.15. On Monday, the US dollar index fluctuated in the Asian session and the European session hit 99.40. Later, it fell below the $99 mark due to dovish remarks by Federal Reserve officials during the US session, and finally closed down 0.43% to 98.35. The benchmark 10-year U.S. Treasury yield closed at 4.3490%, while the 2-year U.S. Treasury yield closed at 3.8700%. As Iran notified the United States and Qatar a few hours before the attack, Trump said it was time to achieve peace. Spot gold turned down at the end of the trading day and finally closed down 0.11% to close at $3367.56/ounce; spot silver finally closed up 0.14% to $36.07/ounce. As Iran's retaliation was less severe than investors expected, concerns about oil supply eased, and international crude oil plummeted by more than 8%. WTI crude oil finally closed down 9.11% at $67.22 per barrel; Brent crude oil closed down 8.86% at $70.33 per barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 98.15. The turbulent evolution of the Middle East conflict has triggered a bearish turn in the dollar market, with investors betting on the slowdown of retaliatory missile attacks. Fed Chairman Jerome Powell will also speak at the government hearing to start a two-day speech to the Congress and Senate Economic xmmarkets.cnmittee. Market attention will focus more on Fed Chairman Powell, and investors are looking forward to seeing how the Fed will respond to President Trump's continued mockery of the Fed's unwillingness to cut interest rates, which may benefit Trump's budget deficit inflation bill. Technically, if the US dollar index closes below 50MA at 98.51, it willGo towards the support level of 98.00–98.20.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Tuesday on the Asian session, gold trading around 3349.7. As US President Trump announced that Israel and Iran had reached a full agreement and a full ceasefire will be achieved, market concerns about the situation in the Middle East have quickly cooled down, suppressing the risk-averse demand of gold. International oil prices continued to fall on Monday, falling 6% to around $64.38 per barrel, a new low in the past two weeks. Investors need to pay attention to further news about the situation in the Middle East. In addition, Federal Reserve Chairman Powell will present a semi-annual monetary policy report testimony to the House Financial Services xmmarkets.cnmittee this day, which also needs to be paid attention to.
2) Analysis of crude oil market trends
On Tuesday, crude oil trading around 65.55. U.S. President Donald Trump said a ceasefire agreement between Iran and Israel has eased concerns about supply disruptions in the region and WTI prices have fallen. The Iranian parliament has voted to close the Strait of Hormuz in retaliation for Trump's attack on the country over the weekend. However, no casualties were reported after the attack. Instead, Iran attacked U.S. military bases in Qatar in retaliation for U.S. attacks on its nuclear facilities.
Forex market trading reminder on June 24, 2025
①To be determined the United States imposes tariffs on various steel appliances
②To be determined Iranian Foreign Minister Aragic held talks with Russian President Putin
③15:15France's initial manufacturing PMI in June
④15:30Germany's initial manufacturing PMI in June
⑤16:00Eurozone's initial manufacturing PMI in June
⑥16:30Eurozone's initial manufacturing PMI in June
⑦16:30Eurozone's initial manufacturing PMI in June
⑦16:30Eurozone's initial manufacturing PMI in June
⑦21:00Eurozone's initial manufacturing PMI in June
⑨21:45 The initial value of S&P Global Manufacturing PMI in June
⑩21:45 The initial value of S&P Global Services PMI in June
22:00 The total number of existing home sales in the United States in May
22:00 The annualized number of Fed sales in May
22:00 The next day, the Fed Gulsby attended the event Q&A
The next day, the Fed Kugler and Williams hosted the event
The above content is about "[XM Foreign Exchange Market Review]: Federal Reserve officials sent dovish signals, oil prices fell by 9%!", which was carefully xmmarkets.cnpiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your transactions! Thanks for the support!
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