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Hello everyone, today XM Forex will bring you "[XM official website]: Trump confirmed that he has authorized the CIA to carry out operations in Venezuela, and the price of gold is approaching 4250." Hope this helps you! The original content is as follows:
On October 16, spot gold was trading around US$4,222. The price of gold stood at US$4,200 per ounce on Wednesday, reaching a maximum of US$4,218.14 per ounce, as bets on interest rate cuts rose. Mild geopolitical unease has investors flocking to safe-haven metals; U.S. crude oil is trading around $58.18 per barrel, with oil price gains limited by escalating trade tensions and the International Energy Agency (IEA) forecasting a supply glut in 2026.
The dollar fell against the euro and yen on Wednesday as ongoing trade tensions dented sentiment. Traders analyzed Federal Reserve Chairman Jerome Powell's speech for clues on possible future rate cuts amid the U.S. government shutdown. The government shutdown has impacted the timely release of critical data.
ForexLive chief currency analyst Adam Button said. "The headlines remain inflammatory, including speeches by Bessant and Greer, but the market saw Trump quickly de-escalate the situation over the weekend and currently does not believe he really wants to fight a trade war."
The U.S. dollar index fell 0.32% to 98.72, falling for a second consecutive session. The Federal Reserve's Beige Book shows that U.S. economic activity has barely changed recently, and employment is basically stable. However, there are signs of weakness such as increased layoffs and low- and middle-income households cutting spending.
Powell said in his speech on Tuesday that the U.S. labor market is still in a stagnant state of "low hiring and low layoffs" and did not rule out the possibility of further interest rate cuts. He pointed out that despite the lack of official economic data due to the government shutdown, at least for now there is still a wide enough range of public and private zgykf.cnrmation for policymakers to assess the economic outlook.
According to London Stock Exchange Group (LSEG) data, the market is currently betting that the Federal Reserve will cut interest rates by 25 basis points at the October 28-29 meeting and cut interest rates again at the December meeting. There will be three interest rate cuts next year.
The U.S. 10-year Treasury yield fell 1.6 basis points to 4.038%. U.S. stocks ended mostly higher as zgykf.cnpanies continued to report strong results. The euro rose 0.35% against the dollar to $1.1646, after rising 0.3% in the previous session, helped by the French government's proposal to suspend landmark pension reforms.
TS Lombard analyst Danielvon Ahlen wrote in an investor report that although the political turmoil in France has begun to ease, the euro still lacks obvious positive factors. At the same time, the recent performance of EUR/USD is zgykf.cnparable to the rebound momentum seen after the euro zone previously announced a number of policies, which further enhances our strategic caution towards the euro.
The Australian labor market showed signs of further cooling in September as hiring momentum slowed and the unemployment rate climbed to 4.5% from 4.2%, the highest level since November 2021. The unemployment rate beat expectations of 4.3%, driven by a 5.2% increase in the number of unemployed people, equivalent to an increase of 33.9 people.
Total employment increased by 14.9, below expectations of 20.0. The breakdown shows that full-time positions increased by 8.7k and part-time positions increased by 6.3k. Despite the slowdown in hiring, the participation rate edged up 0.1 points to 67.0 per cent, suggesting more Australians are re-entering the labor market even as job creation slows.
Meanwhile, monthly working hours increased by 0.5% month-on-month, indicating that employed workers are still working longer hours on average, buffering some of the weakness in the overall employment data.
Eurozone industrial production fell by -1.2% month-on-month in August, which was smaller than the expected -1.8% drop. Data from Eurostat showed widespread declines in key sectors, with capital goods output falling by -2.2%, consumer durables by -1.6%, energy production by -0.6% and intermediate goods by -0.2%. Only non-durable consumer goods edged up 0.1%.
Industrial output across the EU fell by -1.0% month-on-month. The regional breakdown shows significant differences between member states: EU industrial powerhouse Germany fell sharply -5.2%, followed by Greece (-4.5%) and Austria (-3.1%), reflecting continued weakness in core Europe. Meanwhile, Ireland (+9.8%), Luxembourg (+4.8%) and Sweden (+3.6%) posted the strongest gains.
The Federal Reserve’s Beige Book released on Wednesday showed that the U.S. economy has basically stagnated, with overall activity “little changed” since the last report. Of the 12 regions, 3 reported slight growth and 5There was no change by region, with 4 regions reporting moderate weakness. While some respondents expressed cautious optimism that demand would pick up within 6-12 months, others highlighted that ongoing uncertainty and government shutdowns are weighing on business confidence and investment decisions.
Pricing pressure remains a key theme. Input costs rose at a "faster pace," the report said, citing "tariff-induced" increases as well as higher costs for insurance, health care and technology services. While some of these cost increases have been passed on to consumers, zgykf.cnpetitive pressures have limited full price pass-through.
There has been no significant change in labor market conditions, with employment levels "basically stable" and labor demand "generally flat." Wages continued to grow at a "moderate to moderate pace," but businesses reported significant increases in employer-sponsored health care costs, which contributed to higher overall labor costs.
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