Today's Market Review
Abstract：Market Review for March 6, 2023
| Dollar Slides as Weak US Data Fuels Rate Cut Hopes, Gold and Silver ShineThe US Dollar took another hit today as disappointing economic data fueled speculation of an imminent Fed rate cut. This news sent Gold and Silver soaring to record highs for 2024.The highly anticipated Super Tuesday primaries are happening today, with over a third of delegates up for grabs in both the Republican and Democratic races.Market Highlights:AUD/USD: Initially dipped following Australia's GDP data, potentially testing the 0.6481 support level.NZD/USD: Briefly bounced back but quickly retreated near the 0.6071 support, showcasing the Dollar's influence.EUR/USD: Continued its upward trend, challenging the 1.0875 resistance.GBP/USD: Unable to hold onto Tuesday's gains, revisiting the 50-day moving average.USD/CAD: Inched higher, testing the 1.3600 resistance as the BoC is expected to hold rates.USD/JPY: Weakened near the 149.56 support, remaining within its recent trading range.Commodities:Gold: Reached a new high of $2,141.94 on growing anticipation of Fed rate cuts.Silver: Continued its bullish run, approaching the $24.9 resistance.US Stocks:All major indices opened lower on Wednesday, with tech stocks leading the decline.S&P 500 closed at $5,084.87, Dow Jones ended at $38,598.40, and the NASDAQ fell below the $17,960 support.Overall, the weakening US Dollar and strong performance of Gold and Silver reflect growing market expectations of a Fed rate cut in the near future. However, key events like Powell's testimony and the ADP report could potentially shift the market sentiment. |
Read more
Key Economic Indicators Today
Market Review | August 7, 2024
Review 2024-08-07 11:02
Today's Hot Financial News
Market Review for March 29,2024
Review 2024-03-29 10:31
Today's Hot Financial News
Market Review for March 28,2024
Review 2024-03-28 11:47
Today's Hot Financial News
Market Review for March 13, 2023
Review 2024-03-13 12:13
WikiFX Broker
Latest News
Explore the Unique features of Zerodha, BOI & HDFC Bank
WikiFXWikiFX Broker Assessment Series | IronFX: Is It Trustworthy?
WikiFXTraze Receives Authorization from UAE Securities Regulator
WikiFXIG Group Set to Smash £1 billion Revenue Mark in FY2025
WikiFXStop Wasting Money on FX Courses! Learn Forex for Free- from Top Brokers
WikiFXHigh Score, Fully Regulated: 3 Brokers You Can Trust in 2025
WikiFXMarkets.com vs SAXO: Which One Is More Suitable for You?
WikiFXThe Real Story of TriumphFX: How Investors are Losing Millions
WikiFXWebull Pay and Coinbase Join Forces to Offer Better Crypto Trading
WikiFX3 Useful News for Traders - Check ASAP!
WikiFXRate Calc
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate