In February, economic activity within the U.S. manufacturing sector continued its contraction for the 16th consecutive month in February with the data stood 47.8 against 49.1 recorded in January, according to the Institute for Supply Management (ISM).
Economic data differentiation in Europe and America The US dollar continued to rise on Thursday, while gold hit a new record high
The Dollar surged as upbeat U.S. GDP data, surpassing expectations at 3.4%, fueled speculation of a Federal Reserve pullback on anticipated rate cuts, heightening investor confidence in the currency. Concurrently, safe-haven gold experienced significant bullish momentum as investors hedged portfolios ahead of pivotal events despite the dollar's ascent.
Market Review for March 29,2024
In the forex market, stability was the theme for the U.S. dollar index, holding firm at 104.30. Minor fluctuations were observed across major currency pairs: the Euro slightly weakened against the dollar, closing at 1.0827
Market attention on the direction of the Japanese yen, with the US dollar slightly rising on Wednesday Gold rose 0.74% and recorded three consecutive positive days on the daily chart
the U.S. equity market, led by the Dow Jones, gained more than 1% last night as institutional investors rebalanced their quarter-end portfolios and exhibited enthusiasm for equities.
Please note that in observance of the upcoming Daylight Saving Time in EU/UK , there will be changes to STARTRADER's trading schedule from 31st March 2024.
Market Review for March 28,2024
WCG Markets:2024-03-28
In the latest market wrap focusing on the foreign exchange sector, the U.S. dollar index showed minimal movement, holding at 104.31.
On Tuesday, due to February's US durable goods orders growth exceeding expectations and an optimistic economic growth outlook for the first quarter in the US, the US dollar index initially fell but then rose, briefly touching below the 104 mark before recovering during the US trading session, closing up 0.07% at 104.29.
Macro data boosted, with the US dollar slightly rising on Tuesday Gold's rise is hindered by the $2,000 mark
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The dollar index (DXY) saw an uptick yesterday amid favourable economic indicators, reinforcing the perception of a robust U.S. economy.
Market Review | March 27, 2024
In the foreign exchange market, the U.S. dollar showed a decline against a basket of major currencies, with the dollar index dipping to 104.22.
On Monday, the U.S. dollar index gave back some of its gains, briefly approaching the 104 mark, and closed down 0.19% at 104.22. The benchmark 10-year U.S. Treasury yield returned above the 4.2% level, closing at 4.246%, while the 2-year U.S. Treasury yield, most sensitive to Federal Reserve policy interest rates, closed at 4.63%.
The market exhibited relative quietness in yesterday's trading session as investors positioned themselves ahead of Friday's release of the PCE index.