Zusammenfassung：In the forex market, the U.S. dollar demonstrated strength against its major counterparts, with the dollar index rising to 103.82. The significant movement included the USD/JPY pair, which saw an increase of 174 pips to 150.88, following the Bank of Japan's announcement to end its negative-interest-rate policy, marking its first rate hike in 17 years and concluding eight years of this monetary approach.
Date: 2024.03.20 MHM European Time AnalysisIn the forex market, the U.S. dollar demonstrated strength against its major counterparts, with the dollar index rising to 103.82. The significant movement included the USD/JPY pair, which saw an increase of 174 pips to 150.88, following the Bank of Japan's announcement to end its negative-interest-rate policy, marking its first rate hike in 17 years and concluding eight years of this monetary approach. Additionally, the Bank of Japan revealed plans to cease its yield curve control and the purchase of risky assets, such as exchange-traded funds and real estate investment trusts. Other notable movements included the Australian dollar and the euro against the U.S. dollar, with the former dropping 28 pips to 0.6531 as the Reserve Bank of Australia held interest rates steady, and the latter slightly declining. The British pound, Canadian dollar, and Bitcoin also saw movements, with Bitcoin experiencing a significant sell-off, dropping over 7% to its lowest level since early March.In the realm of stocks and commodities, U.S. markets closed on a positive note with investors eagerly anticipating the Federal Reserve's interest rate decision. The S&P 500, Dow Jones Industrial Average, and Nasdaq 100 all posted gains, with the S&P 500 reaching a new record. Sector-wise, energy, utilities, and consumer discretionary led the gains. Noteworthy stock movements included Nvidia, which unveiled a new flagship AI chip, and Nordstrom, which saw a surge amid news of potential privatization by its founding family. Meanwhile, Microstrategy's continued acquisition of Bitcoin despite a recent price slump highlighted corporate confidence in digital assets. In the commodities market, U.S. crude oil prices climbed to a four-month high, while gold saw a slight dip. Additionally, European markets also ended the day higher, reflecting a positive sentiment across global markets.In Asia, trading sessions saw little change in the EUR/USD and GBP/USD pairs, while the USD/JPY continued its upward trajectory. Gold prices remained stable, and Bitcoin saw a slight recovery from its previous lows. Looking ahead, the market's focus shifts towards the eurozone's consumer confidence index and Germany's producer price index, with expectations for improvements in both. The U.K. is anticipated to report a slowdown in its inflation rate, while the U.S. Federal Reserve is expected to maintain its current interest rate range, keeping markets on their toes for any shifts in economic policy or sentiment that could influence global financial trends.
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