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The U.S. dollar index is barely holding on to the 99 mark, is an interest rate cut imminent?
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Hello everyone, today XM Forex will bring you "[XM Foreign Exchange Decision Analysis]: The US dollar index is dangerously at the 99 mark, is an interest rate cut imminent?". Hope this helps you! The original content is as follows:
On October 15, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 99.01. On Tuesday, the U.S. dollar index stayed just above the 99 mark and finally closed down 0.21% at 99.056. U.S. bond yields generally fell, with the benchmark 10-year U.S. bond yield hitting 4% for the first time since September 17 and finally closing at 4.033%. The 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.491%. Spot gold hit the $4,180/ounce mark during the session, setting another all-time high. Then there was a flash crash, pulling back nearly $90 from the daily high. The U.S. market moved higher again, and finally closed up 0.77% at $4,142.15/ounce, marking the third consecutive trading day of gains. Spot silver also rode a roller coaster, setting a new all-time high and then diving, finally closing down 2.05% at $51.273/ounce. As the IEA warned that global oil supply will be severely oversupplied in 2026 and trade tensions remain, international crude oil returned to decline. WTI crude oil fell 3% at one time, and then the decline narrowed, finally closing down 1.69% at US$58.23/barrel; Brent crude oil finally closed down 1.76% at US$62.07/barrel.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar is hovering around 99.01. The U.S. dollar index is falling as traders focus on Powell's www.xmmen.comments. The Fed chairman said the central bank may stop reducing its balance sheet in the www.xmmen.coming months. He also noted that there is no risk-free path to monetary policy. Technically, the nearest support level for the U.S. dollar index is in the 98.85–99.00 range. A break below the 98.85 level will push the U.S. Dollar Index towards the next support level98.00–98.20.
Gold and crude oil market trend analysis
1) Gold market trend analysis
In Asian trading on Wednesday, gold hovered around 4161.16. Precious metals edged higher as traders flocked to safe-haven assets amid trade tensions and expectations of U.S. interest rate cuts. Federal Reserve (Fed) officials are due to speak later on Wednesday, including Stephen Millan, Christopher Waller and Jeff Schmid.
2) Crude oil market trend analysis
On Wednesday in the Asian market, crude oil was trading around 58.22. Global oil prices fell under pressure as the International Energy Agency (IEA) warned that the global crude oil market may experience a supply surplus of up to 4 million barrels per day by 2026. In addition, as trade tensions between China and the United States escalated, investor risk aversion increased.
Foreign exchange market transaction reminder on October 15, 2025
① To be determined, European Central Bank President Lagarde will attend the meeting
②09:30 China’s September CPI annual rate
③14:45 French September CPI monthly rate final value
④17:00 Eurozone industrial output monthly rate in August
⑤20:30 Canadian wholesale sales monthly rate
⑥20:30 U.S. New York Fed manufacturing index in October
⑦21:30 Fed Governor Milan delivers a speech
⑧ At 00:30 the next day, Fed Governor Milan spoke >European Central Bank President Lagarde participated in the debate at 02:00 the next day
The above content is about "[XM Foreign Exchange Decision Analysis]: The U.S. dollar index is still at the 99 mark, and an interest rate cut is imminent?" It was carefully www.xmmen.compiled and edited by the XM foreign exchange editor. I hope it will be helpful to your trading! Thanks for the support!
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