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The U.S. dollar index rebounded, and the U.S. High Court is scheduled to announce its ruling on the tariff case on the 9th
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Hello everyone, today XM Forex will bring you "[XM Group]: The U.S. dollar index rebounds, and the U.S. High Court is scheduled to announce the ruling on the tariff case on the 9th." Hope this helps you! The original content is as follows:
On January 7, in early trading in Asia on Wednesday, Beijing time, the U.S. dollar index was hovering around 98.38. On Tuesday, the U.S. dollar index rebounded and finally closed up 0.28% at 98.59, a new high in more than two weeks; U.S. bond yields rose slightly, with the benchmark 10-year U.S. bond yield finally closing at 4.169%, and the 2-year U.S. bond yield, which is sensitive to the Federal Reserve's policy interest rate, closed at 3.473%. Supported by strong safe-haven buying triggered by geopolitical tensions, spot gold maintained its gains, approaching the $4,500 mark, and finally closed up 1.04% at $4,495.09 per ounce; spot silver stood above the $81 mark, and finally closed up 6.06% at $81.25 per ounce, setting a new high since December 29 last year. International crude oil gave up gains from the previous session as the market weighed the prospect of abundant global crude supplies and uncertainty over Venezuelan crude output after the United States imposed a control over Maduro. WTI crude oil continued to fall in the US market, falling below the $57 mark, and finally closed down 2.22% at $56.86/barrel; Brent crude oil finally closed down 2.07% at $60.43/barrel.
Analysis of major currency trends
U.S. dollar index: As of press time, the U.S. dollar is hovering around 98.58. The U.S. dollar (USD) held on to overnight gains despite a lack of bullish confidence ahead of dovish Federal Reserve expectations and the release of a slew of key macroeconomic indicators. On top of this, widespread bullish sentiment in global equity markets has dented demand for the safe-haven currency the US dollar, which in turn is seen as a key tailwind for the GBP/USD pair. Technically, the weekly chart of the U.S. dollar index shows that it fell below the weekly lineAfter that, it did not rebound back to the rising channel as quickly as before, which means that the operating center of the US dollar index has moved downwards. The US dollar index is likely to break away from the original rising channel and turn into a box shock.



Gold and crude oil market trend analysis
1) Gold market trend analysis
In Asian trading on Wednesday, gold hovered around 4480.73. Spot gold fluctuated at high levels, once touching $4,500.27 per ounce. This price level is very close to the historical high of $4,549.71 per ounce set on December 24 last year. Investors' concerns about global uncertainty have increased significantly, especially over the weekend, when the U.S. military action against Venezuela triggered widespread risk aversion and drove a large inflow of funds into the precious metals market.

2) Crude oil market trend analysis
On Wednesday in the Asian session, crude oil was trading around 56.36. Oil prices fell on Tuesday as markets weighed expectations for ample global supplies in 2026 against uncertainty over Venezuelan crude output following the arrest of leader Maduro.

January 7, 2025 Foreign Exchange Market Transaction Alert
21:15 US December ADP Employment Number
23:00 US December ISM Non-Manufacturing PMI
23:00 US November JOLTs Job Vacancies
23:00 US December Global Supply Chain Stress Index
23:00 US 1 Monthly rate of factory orders in October
23:30 EIA crude oil inventories in the United States for the week of January 2
23:30 EIA Cushing crude oil inventories in the United States for the week of January 2
23:30 EIA strategic petroleum reserve inventories in the United States for the week of January 2
Fed Governor Bowman gave a speech at 05:10 the next day
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