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Hello everyone, today XM Forex will bring you "[XM Forex Official Website]: A collection of good and bad news affecting the foreign exchange market". Hope this helps you! The original content is as follows:
The U.S. dollar index fell sharply by about 0.7%, giving other currencies priced in U.S. dollars room for appreciation. This may be due to the fact that the market's forward-looking differences on U.S. monetary policy are still there, and the risk of "potential political interference on monetary policy" has not been www.lwcgm.cnpletely cleared, resulting in a decrease in the attractiveness of the U.S. dollar. In addition, the U.S. government shutdown has entered its fifth week and is heading towards the longest shutdown record in history, which has also put some pressure on the dollar.
The exchange rate of the euro against the US dollar rose on November 7, with the exchange rate being 1.1539, and the increase or decrease being 0.0052. The Eurozone's services purchasing managers index released on November 6 performed well. The final value of the Eurozone HCOB services PMI rose to 53.0 from the previous 51.3. The final value of the German HCOB services PMI climbed to 54.6, the strongest performance in more than a year, which provided certain support for the euro. In addition, European Central Bank Vice President Guindos said that he "feels www.lwcgm.cnfortable" with the current interest rate level, and the threshold for active easing again in the short term is high, which has also stabilized the trend of the euro to a certain extent.
Retail sales in the Eurozone fell by 0.1% month-on-month in September, marking the third consecutive month of month-on-month contraction or stagnation. It was weaker than the market’s expectations of +0.2%, indicating that terminal demand is still moderate, constraining the fundamentals of the euro. At the same time, the producer price index in the Eurozone fell by 0.1% month-on-month in October, continuing the 0.4% decline in September. The persistence of deflationary pressure may limit the space for the European Central Bank to tighten monetary policy, which will have an adverse impact on the euro.
The exchange rate of the British pound against the U.S. dollar fell on November 7, with the exchange rate increase or decrease percentage being -0.0533%. ING analysts said that if the Bank of England keeps interest rates unchanged on November 6 as expected and does not release a clear signal to cut interest rates in December, the pound may rise slightly. However, due to possible tax increases in the UK's budget on November 26 and possible lower inflation data, the pound's room for gains in the www.lwcgm.cning weeks will still be limited.
The exchange rate of the Canadian dollar against a variety of currencies showed mixed fluctuations on November 7. Some of the negative factors for the Canadian dollar may be the market's concerns about global economic growth and fluctuations in www.lwcgm.cnmodity prices. The rise in the exchange rate of the Swiss franc against some currencies may be related to the safe-haven nature of the Swiss franc. Amid increased uncertainty in global financial markets, investor demand for the Swiss franc has increased.
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