Dollar Dive on Fed’s Dovish Statement
Fed Chair dovish statement indicated a commitment to rate cuts later this year, despite recent signs of inflationary pressure, exerted downward pressure on the dollar index (DXY), which declined by as much as 0.6%
March 21, 2024 DAILY MARKET NEWSLETTER: Fed Hints at Rate Cuts, Stocks Surge
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WCG Markets:2024-03-21
WCG Markets:2024-03-21
MHMarkets：2024.03.20 MHM European Time Analysis
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.
MHMarkets：March 20, 2024 Economic Highlights
On Tuesday, due to US economic data indicating persistent inflation, expectations for interest rate cuts were dampened. The US dollar index opened low but went higher, closing up 0.22% at 103.80. The yield on the benchmark 10-year US Treasury note closed at 4.2910%, and the yield on the 2-year US Treasury note, most sensitive to Fed policy rates, closed at 4.6970%.
The expectation of the Bank of Japan's interest rate hike has been fulfilled The US dollar index rose on Tuesday, with gold slightly recovering under pressure
On Tuesday (March 19th), due to US economic data indicating high inflation stickiness and suppressed expectations of interest rate cuts, the US dollar index opened lower and rose higher, ultimately closing up 0.22% at 103.80. The benchmark 10-year Treasury yield closed at 4.2910%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.6970%.
BoJ Dovish Rate Hike Weaken Japanese Yen
The Bank of Japan (BoJ) has concluded its era of negative interest rates with its first rate hike since 2007, simultaneously ending its yield curve control (YCC) policy.
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WCG Markets:2024-03-20
WCG Markets:2024-03-20
MHMarkets：2024.03.19 MHM European Time Analysis
In the realm of foreign exchange, the U.S. dollar showcased strength against a basket of major currencies, with the dollar index reaching 103.60.
MHMarkets：March 19, 2024 Economic Highlights
On Monday, with previously released US economic data showing improvement, the market bet on the reduced possibility of a Fed rate cut in June. The US dollar index opened lower but rose throughout the day, ultimately closing up by 0.13% at 103.58. The yield on the benchmark 10-year US Treasury note closed at 4.3250%, while the 2-year US Treasury yield, most sensitive to Fed policy rates, closed at 4.7360%.
Market expectations for Fed rate cuts cooling down The US dollar rose on Monday, while gold prices closed higher after two consecutive declines
On Monday (March 18th), as a result of the previously released US economic data, the market's bet on the possibility of the Federal Reserve cutting interest rates in June decreased. The US dollar index opened lower and rose higher, ultimately closing 0.13% higher at 103.58. The benchmark 10-year Treasury yield closed at 4.3250%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.7360%.
3/19 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Gold Price Rebounds Ahead of FOMC Meeting
In the lead-up to pivotal interest rate decisions by the Bank of Japan (BoJ) and the Reserve Bank of Australia (RBA), global financial markets are exhibiting signs of stability. The U.S. Dollar Index (DXY) is maintaining its position above the 103.50 threshold, bolstered by last week's Producer Price Index (PPI) figures that have steered market sentiment towards expectations of a more hawkish Federal Reserve policy stance in Q2 2024.
WCG Markets:2024年03月19日黄金市况分析
WCG Markets:2024年03月19日黄金市况分析
3/18 Market report
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
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