Spot gold oscillated slightly lower during the Asian session on Tuesday (April 4) and is currently trading around $1980.13 per ounce. The dollar index rebounded mildly after a big drop overnight, putting pressure on gold prices. However, this week will see the non-farm payrolls report, there is no important economic data out on Tuesday, and the market wait-and-see sentiment is getting stronger.
On Monday, in OPEC + members unexpectedly cut production reignited market concerns about long-term inflation and sparked uncertainty about the Fed's response, the dollar index once up to the 103 mark, and then on a "vertical roller coaster", giving back all the gains of the day and once lost 102 mark, finally closed down 0.53% at 102.04; U.S. 10-year Treasury yields rose and then fell, as data showed that the U.S. economy continues to slow, it fell sharply in the U.S. session, and once to a low
WCG Markets:2023-04-04
Over the last few months, the Federal Reserve has played an increasingly significant role in affecting the global economy and stock market. Unless you’re a new investor, you’ve likely heard the news: “The Fed hiked interest rates by 75 bps. Chairman Powell holds a hawkish stance towards future rate hikes.” Your portfolio has probably suffered, with growth stocks and long-term treasuries losing significant value in 2022.
What is the difference between equity and balance in forex trading? While equity is a dynamic value that reflects the changes in open trades, balance is the amount of initial funds in your trading account. Every trader should be able to understand the difference between equity and balance as they are two crucial aspects of forex trading. Fundamentally, while they may reflect the same amount sometimes, equity and balance are two different amounts.
Spot gold was shockingly weak during the Asian session on Monday (April 3) and is currently trading near $1952.83 per ounce. OPEC unexpectedly cut production on Weekend, international oil prices rose sharply, market concerns that global inflation will pick up again, which will increase the pressure of the Federal Reserve to raise interest rates, helping the dollar index rose to nearly a week high, on gold prices weighed significantly.
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Last Friday, spot gold briefly shot up $10 after the release of expected PCE data, but in late trading, it took up most of its gains and fell below the 1970 level, eventually closing 0.57% lower at $1969.13 per ounce. Spot silver rose sharply during the European session, but although it fell somewhat late in the session, it closed up 0.83% higher at $24.10 per ounce. Gold prices rose $150 in March, their best monthly performance since July 2020.
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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