WCG Markets:2023-11-23
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
At the end of the Asian market on Wednesday (November 22), the latest minutes of the November Fed meeting showed that the Fed hinted that policies would need to remain "restrictive" due to concerns that inflation may stubbornly or modestly rise.
The dollar index pared losses on Tuesday as the Fed minutes indicated it would maintain its restrictive policy for a long time. It fell as low as 103.17,
The minutes of the Federal Reserve meeting have limited impact on precious metals, with long and short vying for the 2000 level;
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【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
At the end of the Asian market on Tuesday (November 21), according to CME's "Fed Watch", the probability of the Fed maintaining interest rates unchanged in the 5.25%-5.50% range in December is 99.8%, and the probability of a 25 basis point rate cut is 0.2%.
The dollar index extended its downward trend on Monday, falling as low as 103.37, a near two-month low, before ending down 0.31% at 103.49. Us Treasury yields fell first and then rose. The yield on the 10-year Treasury note closed at 4.426%; The yield on the two-year Treasury note, which is more sensitive to the Fed's policy rate, rose above 4.9% before closing at 4.919%.
Weak US inflation data Market expected the Fed interest rates approaching to the peak The US dollar kept felling
Oil prices increased their growth on Monday evening after the publication of an updated OPEC forecast regarding the prospects for global fuel demand. The current price of Brent oil is $82.80 per barrel. Before the forecast was published, the asset was trading near $80.50.
Gold prices started a downside correction from the $2,010 zone. • A major declining channel is forming with resistance near $1,945 on the 4-hour chart. • Crude oil prices are attempting a recovery wave from the $75.00 zone.
A currency pair is a quote for two currencies that are not the same. It's the amount you'd pay for a unit of another currency in one currency. For example, if you get quoted EUR/USD 1.13, it means you can exchange 1 Euro for 1.13 US Dollars.
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WCG Markets:2023-11-21
Global markets are experiencing a diverse trading pattern at the start of the week, with major central bankers advocating for prolonged periods of higher interest rates. This development coincides with uncertain geopolitical news and a relatively uneventful economic calendar. Despite these factors, the US Dollar is struggling to gain traction, in tandem with declining US Treasury bond yields.
The People's Republic of China has initiated the process of constructing oil inventories once more.
This week's macroeconomic reports are expected to be limited, however, market participants will have the opportunity to review the most recent meeting minutes from major central banks.