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Powell said it would take more time before the rate cut, and gold fell below the 3310 mark at one point!
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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Market Analysis]: Powell said it will take more time before the interest rate cut, and gold once fell below the 3310 mark!" Hope it will be helpful to you! The original content is as follows:
On June 25, early trading in Asia on Wednesday, Beijing time, the US dollar index hovered around 97.94. On Tuesday, the US dollar index continued to fall nearly 0.50% in the Asian and European sessions, falling below the 98 mark, and then rebounded slightly after Powell's hinting that he would resist a call for a rate cut in July, and eventually closed down 0.40% to 97.96. The benchmark 10-year U.S. Treasury yield closed at 4.2960%, while the 2-year U.S. Treasury yield closed at 3.8310%. In the ceasefire to crack down on risk aversion, and Powell said it would take more time before considering a rate cut, spot gold fell below the $3,310 mark for a time and finally closed down 1.67% to $3,322.82/oz; spot silver finally closed down 0.46% to $35.90/oz. Oil prices fell 6%, hitting a two-week low as markets expected the Iraq-Israel ceasefire to reduce the risk of oil supply disruptions in the Middle East. WTI crude oil fell back below $64/barrel during the session, and finally closed down 3.35% at $64.96/barrel; Brent crude oil closed down 3.7% at $67.73/barrel.
Analysis of major currencies
Dollar Index: As of press time, the US dollar index hovers around 97.94. The dollar index is falling as traders react to xmmarkets.cnments from Fed Chairman Powell. Jerome Powell said the current interest rate is moderately restricted. Traders believe the remarks suggest that the Fed is ready to cut interest rates. Technically, the U.S. dollar index is trying to close below support level 98.00–98.20. If this attempt is successful, the U.S. dollar index will move to the next support level, which is at 96.70–96.90 interval.
Analysis of gold and crude oil market trends
1) Analysis of gold market trends
Which trading was held in Asian trading, gold trading was around 3323.34. Precious metals fell as tensions in the Middle East eased. Traders are ready for Fed Chairman Jerome Powell to testify later Wednesday. Gold fell from its recent highs after news of a ceasefire in Israel and Iran. The armistice agreement between the two countries came into effect after Iran launched four waves of attacks on the Israeli-occupied area.
2) Analysis of crude oil market trends
In the Asian session on Wednesday, crude oil trading was around 64.66. The United States launched an air strike on Iran's nuclear facilities on June 22, and Iran launched a missile strike on the U.S. Air Force Base in Uded, Qatar on June 23 in retaliation. However, Qatar's air defense system successfully intercepted all missiles without causing casualties. This "restrained" retaliation measures have strengthened investors' expectations that the situation in the Middle East may ease and reduced the role of pushing up oil prices. US President Trump even claimed on June 23 that Israel and Iran have agreed to a full ceasefire, and the ceasefire plan will be implemented from 0:00 on the 24th of US Eastern Time. Although Israel and Iran did not respond to this, the market's risk aversion sentiment cooled down rapidly, and crude oil prices were suppressed.
Forex market trading reminder on June 25, 2025
09:30 Australia's May Weighted CPI annual rate
16:00 Switzerland's June ZEW Investor Confidence Index
22:00 The total number of new home sales in the United States in May
22:00 Federal Reserve Chairman Powell testified and stated
22:30 EIA crude oil depots in the week from the United States to June 20 Inventory
22:30 EIA Cushing crude oil inventories in the week from the United States to June 20
22:30 EIA Strategic Oil Reserve Inventories in the week from the United States to June 20
The above content is about "[XM Foreign Exchange Market Analysis]: Powell said that it will take more time before the interest rate cut, and gold once fell below the 3310 mark!", which was carefully xmmarkets.cnpiled and edited by the editor of XM Foreign Exchange. I hope it will be helpful to your trading! Thanks for the support!
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