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Hello everyone, today XM Foreign Exchange will bring you "[XM Foreign Exchange Platform]: The yield spread is dominated again, and the US dollar index is looking towards the range of 99.177–99.838". Hope it will be helpful to you! The original content is as follows:
XM Forex APP News-On Tuesday (July 29), the US dollar index (DXY) rose sharply, breaking the key resistance level of the 50-day moving average of 98.300, which has now become instant support. This breakthrough confirmed a short-term trend reversal, with the target pointing to a key retracement range between 99.177 and 99.838. As the U.S. dollar index climbed above 98.950, the June 23 high of 99.421 and May 29 peak of 100.540 are now potential upside targets. The U.S.-European tariff agreement boosted the dollar; the dollar rose against the euro and intensified after reaching a trade deal with the EU over the weekend, which included the U.S. raising tariffs by 15%, while the EU promised to increase spending on U.S. energy and defense. The deal helped the dollar reach its best performance against the euro since May, highlighting market confidence that the U.S. has the ability to control tariff risks without triggering destructive retaliation. The euro fell more than 1% on Monday, as traders are weighing the pros and cons of European concessions. Although similar trade agreements with Japan and the UK cover 60% of the U.S. trade total, the dollar has strengthened across the board—a sign that the risk premium pushed up by trade war concerns since April is waning across the board, which has previously weighed on the dollar. The Fed is the focus, but it is expected to adjust interest rates in the short term. The Fed is starting a two-day policy meeting, and no policy changes are expected this week. However, traders are closely watching for upcoming labor market data and June ngjpn.cnmodity trade reports, both of which will provide the basis for the second-quarter GDP data released later this week. Given the estimated loan of $1.007 trillion in the third quarter and/p>
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