The 'dollar killer' Trump signs the US Mexico agreement, causing the US dollar to fall below95Non US currencies continue to rise at the border!

Yesterday's review
The new sanctions imposed by the United States on Russia came into effect yesterday, and Russia has also taken countermeasures against the United States, wielding three "trump cards" to cope with the US sanctions, including restricting or banning the transit of US aircraft, banning the export of energy products such as natural gas to the United States, and restricting US companies in Russia. In the evening, the United States officially reached an agreement with Mexico on the North American Free Trade Agreement, and Canada is waiting for negotiations. US President Trump has stated that he can sign separate agreements with Canada or choose to have Canada join the trade agreement signed between the US and Mexico. Yesterday, influenced by Powell's dovish remarks last Friday and the easing of market risk aversion due to the new trade agreement between the US and Mexico, the US dollar broke under pressure95Gateway, creating8month2New low in recent days, non US major currencies continue to rise,goldBreakthrough in one fell swoop1210Gateway.

Yesterday（8month27Japanese Euro/The US dollar hit bottom and rebounded after fluctuating downwards, showingVWord trend, Euro/The US dollar continues to rise, touching7month31High level in recent days. The data during the Asian session was light, and the strengthening of the US dollar boosted the euro/The US dollar is under pressure to decline. Germany was announced during the European trading session8monthIFOBusiness Prosperity Index, published value103.8Better than expected101.9The German think tankIFOIt said that the strong German economy is offsetting the uncertainty brought by the Brexit and the Türkiye Lira crisis/The US dollar is rising in the short term. During the US trading session, the United States8Dallas Fed Business Activity Index for the Month Released30.9Better than previous values30However, the response of the US dollar was lackluster.

Today's analysis




(Europe and AmericaM30chart)

Regarding the Euro:
Asian market morning session, Euro/After a slight increase, the US dollar began to decline and is currently1.1676There is a slight fluctuation nearby. Technically, you can go long on dips today, with support levels below1.1673、1.1617If it falls below the support level1.1655When there is a pullback, it can be emptied at high levels; If there is a sudden drop in support level1.1599At this time, you can wait for the callback to return to the interval and open high. Today, the Eurozone needs to pay attention to Italy7monthPPIthe annual rate. Attention should be paid to the United States during the US trading session7Initial value of monthly wholesale inventory rate and US8Monthly Richmond Fed Manufacturing Index, and8The monthly consumer confidence index of the Chamber of Commerce and the overall data in the United States are weak, and the expected values are worse than before. The US dollar may come under pressure to boost the euro.

In terms of gold:
In the morning session of the Asian market, spot gold slightly fell back and is currently in1209.18Nearby shaking. The trade agreement between the United States and Mexico has further weakened the safe haven buying demand for the US dollar. The US dollar index has weakened significantly overnight, and technical bearish signals have increased. There is still further downside risk for the US dollar in the future, and the weakening of the US dollar continues to provide support for gold prices. Technically, it is possible to go long on dips today, as the current pressure level is high1212, lower support position1207Today, it is important to pay close attention to news related to the international trade situation.

Today's focus on data:
Italy7monthPPIthe annual rate
U.S.A7Initial monthly wholesale inventory rate
U.S.A8Monthly Consultation Chamber Consumer Confidence Index
U.S.A8Monthly Richmond Fed Manufacturing Index

Disclaimers:
This analysis and trading strategy objectively describe the current market trend. Investors need to strictly follow the principles of following the trend, reducing positions, and stopping losses! We cannot solely rely on trading strategies as the basis for placing orders, this is for reference only!

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