Banda Asia: Unexpected Softening of US Dollar Index Gold bulls take a breather

Chicago Fed Chairman2017yearFOMCVoting committee member Evans and Richmond Fed Chairman Lake delivered speeches at a panel discussion last Friday. Evans said, "There are some signs that inflation expectations in the United States may be lower than the target now, which still worries me."; Loose policies are needed to raise the low inflation rate to the target. He added that inflation has always been low, but relatively stable; Inflation expectations have not revealed much information. In addition, Lake stated that it can avoid the impact of the last century60Monetary policy errors in the era(Refers to the lack of preemptive interest rate hikes); The uncertainty of neutral interest rates poses a challenge for the Federal Reserve to evaluate its policy stance. He said that the current stability of inflation does not mean that it will also remain stable in the future; Losing control over inflation comes at a cost. He also stated that the independence of the Federal Reserve is not taken for granted.


In addition, in her speech at last Friday's Conservative Party meeting in Scotland, British Prime Minister Theresa May made the clearest statement in history regarding the Scottish independence referendum issue, promising not to allow Scotland and England to split after Brexit. Theresa May said, "When the UK leaves the EU, we will establish a new role in the world. The strength and stability of our United Kingdom will be even more important." "We must take this opportunity to bring all parts of the UK closer together, because what we care about is not just a constitutional alliance." "This is an alliance of people, emotions, and loyalty.". Its existence is based on some simple but powerful principles: unity, unity, and inheritance. Our alliance is not a marriage of convenience or friendship, but a true and sustainable alliance that has been tested by adversity and proven feasible


The data that needs attention today is the Eurozone2monthMarkitretail tradePMIEurozone3monthSentixInvestor confidence index, United States1Monthly Endurance Order Monthly Rate Final Value and US1Monthly factory order rate.


gold/dollar

Last Friday, gold hit bottom and rebounded, with a slight decline in the daily trend. The spot exchange price was traded at1233Nearby. Federal Reserve3The sharp increase in interest rate expectations for the month, supported by a series of hawkish comments from numerous Federal Reserve officials, is the main reason for the pressure on gold to weaken. In addition, goldETFThe decrease in holdings has also put some pressure on gold, causing it to weaken under pressure and refresh at one point2Weekly low. However, supported by short covering and unexpected weakness in the US dollar index, gold quickly rebounded and recovered most of the intraday decline. Follow Today1240Nearby pressure situation, supported below1225Near.

dollar/Japanese yen

Last Friday USD/The Japanese yen rose and then fell, with a slight decline in the daily chart. Federal Reserve3The expected increase in interest rates in the month once supported the rise of the exchange rate and hit a half month high. However, the good times did not last long, as the US dollar index fell due to profit taking/The Japanese yen gave up all its gains during the day and ultimately closed down. In early trading in Asia, the market's risk aversion increased due to news of North Korea's missile launch, with the US dollar/The Japanese yen is under pressure and is weakening, with spot exchange rates trading at113.80Nearby. Follow Today114.50Nearby pressure situation, supported below113.00Near.

dollar/Cad

Last Friday USD/The Canadian dollar rose and then fell, with a slight daily decline. The spot exchange price was traded at1.3390Nearby. Profit taking and the weakening of the US dollar index after Federal Reserve Chairman Yellen's speech put pressure on the exchange rate2The main reason for the monthly high decline. In addition,crude oilThe rebound in prices supported by the weakening of the US dollar has also put some pressure on the exchange rate. However, the Federal Reserve3The expectation of interest rate hikes in the month and the Bank of Canada's statement that the economy is facing significant uncertainty have limited the downward space for the exchange rate. Follow Today1.3500Nearby pressure situation, supported below1.3300Near.