Powell turns pigeon to gold bullish The US dollar continues to fall under pressure

26 Aug, 2024

The US dollar index fell on the 23rd. The US dollar index, which measures the US dollar against six major currencies, fell 0.78% that day and closed at 100.717 at the end of the foreign exchange marke

The US dollar index fell on the 23rd. The US dollar index, which measures the US dollar against six major currencies, fell 0.78% that day and closed at 100.717 at the end of the foreign exchange market.

 

As of the end of the New York currency market, 1 euro was exchanged for 1.1187 US dollars, higher than the previous trading day's 1.1111 US dollars; 1 pound is exchanged for 1.3203 US dollars, higher than the previous trading day's 1.3092 US dollars.

 

1 US dollar is exchanged for 144.30 Japanese yen, lower than the previous trading day's 146.22 Japanese yen; 1 US dollar is exchanged for 0.8479 Swiss francs, lower than the previous trading day's 0.8520 Swiss francs; 1 US dollar is exchanged for 1.3513 Canadian dollars, lower than the previous trading day's 1.3605 Canadian dollars; 1 US dollar is exchanged for 10.1898 Swedish kronor, lower than the previous trading day's 10.2487 Swedish kronor.

 

Gold prices rose more than 1% last Friday to close at $2511.85 per ounce, as the yield of US dollars and treasury bond bonds fell after Federal Reserve Chairman Powell made remarks on interest rate cuts in September. Over the past weekend, Hezbollah launched hundreds of missiles into northern Israel. Israel claimed that its preemptive strike on Lebanon prevented a larger scale attack, but neither side had the intention of erupting into a full-scale war. This week, we will receive the August PCE data from the United States, and investors need to pay close attention to it.

x

WARNING and please be advised:

It has come to our attention that a number of unauthorised firms /individuals have cloned our website content, logo and social media pages of CWG Markets Limited. Please be advised that these unauthorised firms have also been contacting consumers via various messaging apps such as WhatsApp, Facebook, Wechat.It should be noted that there is no connection whatsoever between the CWG Markets Limited, an authorised firm, and the unauthorised entities/ individuals that have cloned our details. If you’ve been scammed or contacted by an unauthorised firm / individuals – or a firm you suspect is not legitimate – you can report to us [email protected]

CFDs (Contract For Difference) are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks and take appropriate care to manage your own risk. Please read our Risk Disclosure carefully.

cwg
It looks like you are based in United Kingdom Click Proceed to be taken to CWG Markets UK LTD Click Stay to continue browsing this website
Proceed Stay
Service Access Restriction Notification

Dear customer,

Thank you for visiting our website. Unfortunately, after an automatic system check, we have found that your current access location is within a restricted area for our services. Due to various laws, regulations, and contractual limitations, we are unable to provide services in certain regions.

We sincerely apologize for any inconvenience this may cause and hope you understand that this measure is necessary to comply with relevant laws, regulations, and policies. Please be aware that this restriction is specific to certain areas and is not directed at individual users.

If you believe this is a mistake, or if you have any questions, please do not hesitate to contact our customer support team. We are always ready to assist and provide further clarification.

Thank you for your understanding and cooperation.

Best wishes,

CWG Markets LTD

Close