In the foreign exchange market, the U.S. Dollar Index held steady at 103.45, with anticipation building around the Federal Reserve's expected decision to maintain interest rates at 5.50%. The Japanese yen weakened against the dollar, moving to 149.07, as Japan considered ending its long-standing negative interest rate policy, while the euro and British pound saw minor adjustments against the dollar.
Market attention to the direction of the Federal Reserve's monetary policy The US dollar index rebounded last Friday, with gold prices falling for the first time in four weeks
All eyes are particularly focused on the BoJ, where there is anticipation for the possibility of the first rate hike in decades.
The RBA maintained the cash rate steady at 4.35% during its February meeting as widely expected by analysts. Reserve Bank governor Michele Bullock previously indicates her skepticism regarding the sustainability of inflation returning to the target level. The Federal Reserve held interest rates steady and sent a tepid signal that it is done raising rates but also made clear that it is not ready to start cutting rates, describing an uncertain path toward rate cuts in 2024.
US Consumer Sentiment Dips, Yields Tick Higher European Indices Mixed, Japan Rate Hike Expected Key Tech Stocks Fall on Disappointing Forecasts
Last Friday, the U.S. dollar index rose due to higher-than-expected U.S. February PPI data, closing up 0.071% at 103.44. U.S. Treasury yields rose, with the benchmark 10-year yield achieving six consecutive gains, closing at 4.3080%; the sensitive 2-year yield closed at 4.7320%.
WCG Markets:2024年03月18日黄金市况分析
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
In the foreign exchange market, the U.S. dollar demonstrated resilience, appreciating against a basket of major currencies, with the dollar index advancing to 103.34. This rise was reflected in various currency pair movements: EUR/USD declined by 62 pips to 1.0884, USD/JPY saw an uptick of 51 pips to 148.25, and GBP/USD decreased by 45 pips to 1.2751, despite the U.K.'s house price index showing some improvement.
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US PPI data exceeded expectations, with the US dollar rebounding significantly Gold under pressure and falling consolidation
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A Recap of Thursday's Market Trends and Notable Performances
On Thursday, due to the U.S. February PPI growth rate significantly exceeding economists' consensus, recording the largest increase since August last year, the U.S. dollar index sharply rose, returning to above the 103 mark, eventually closing up 0.542% at 103.37. U.S. Treasury yields started low but moved higher, with the benchmark 10-year Treasury yield closing at 4.2922%, and the 2-year Treasury yield, most sensitive to Federal Reserve policy rates, closing at 4.6935%.
BC Financial Group extends its corporate social responsibility efforts to Khao Kam Phaeng School, donating essential educational supplies to 357 students.
WCG Markets:2024-03-15
In the forex market, the U.S. dollar showed a lack of momentum, slipping to 102.82 on the dollar index, while the Euro and the British pound made modest gains against it, buoyed by mixed economic reports from their respective regions.
Market digestion of US CPI data, US dollar fell yesterday Gold price rose up and waiting for the data release
Key Insights and Intraday Trading Strategies for Global Markets
The Dollar Index retreated from resistance levels, as market participants applied profit-taking strategies ahead of crucial events. With attention shifting towards the pivotal Producer Price Index (PPI) and retail sales figures, investors seek insights into the economy's trajectory and potential interest rate adjustments by the Federal Reserve.