At the end of the Asian market on Thursday (November 30), Cleveland Fed Chairman Mester recently stated that US inflation has cooled, while economic activity and labor markets have slowed down.
On Wednesday, the dollar index recovered from a more than three-month low on another stronger-than-expected U.S. economic growth in the third quarter and repeatedly tested the 103 mark in U.S. trading, but failed to hold above it and ended up 0.10% at 102.84. Treasury yields continued to fall, with the 10-year Treasury yield falling below the 4.3% mark to close at 4.259%; The yield on the two-year Treasury note, which is more sensitive to the Fed's policy rate, retreated to 4.646%.
The expectation of the Federal Reserve cutting interest rates has increased, and gold has reached a nearly seven month high;
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2023-11-30
At the end of the Asian market on Wednesday (November 29), two hawkish Fed officials softened their attitude towards interest rate policy last night, strengthening market expectations that the Fed has completed a rate hike.
The dollar index continued its slide on Tuesday, losing 103 and falling to an intra-day low of 102.61, a three-month low, before ending down 0.44% at 102.73, where it has now closed in negative territory for four consecutive days. The yield on the 10-year Treasury note failed to hold above the 4.4% mark, ending at 4.324%. The yield on the two-year Treasury note, which is more sensitive to the Fed's policy rate, fell 4.8% to close at 4.742%.
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All indicators point towards a bullish scenario for GBP/USD. The improvement in global risk sentiment is strengthening GBP and weakening USD. Both retail sentiment and seasonality analyses align, recommending a long position for GBP/USD, emphasizing the potential for GBP gains and USD losses.
WCG Markets:2023-11-29
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
At the end of the Asian market on Tuesday (November 28), a study released by the St. Louis Federal Reserve last week showed that it will take nearly four more years for the Fed to make up for its historic operating losses and begin resubmitting profits to the US Treasury in 2027. T
The dollar index continued to slide on Monday, falling as low as 103.18 before closing down 0.19% at 103.22, on track for its biggest monthly decline in a year. The yield on the 10-year Treasury fell sharply, hitting an intraday low of 4.381% before closing at 4.390%. The yield on the two-year Treasury note, which is more sensitive to the Fed's policy rate, fell to 4.9% before closing at 4.890%.
Is there a correlation between faster wage growth and faster inflation? Conversely, do high prices trigger workers to demand higher wages, resulting in employers eventually agreeing?
Gold prices have conquered $2010 and hit a six-month high, Oversupply expectations cover the oil market, Oil prices continue to be under pressure before the OPEC+meeting
WCG Markets:2023-11-28
Global markets enter the new week in a risk on tone with as market participants are positioning for no more rate hikes out of the Federal Reserve and pricing in cuts from Q2 2024.
US New Home Sales are due, along with the Dallas Fed Manufacturing Index.
EUR/JPY rally showed some weakness on Monday, with the pair witnessing a two-week high of 163.72, but buying pressure fades as the cross retreats below the 163.00 figure toward the 162.00 handle. At the time of writing, the EUR/JPY pair exchanges hands at 162.73, down by 0.40%.