Macro data boosting, the US dollar rebounded significantly yesterday Gold prices rise and fall, market focus shifts towards future trends
Macro data boosting, the US dollar rebounded significantly yesterday Gold prices rise and fall, market focus shifts towards future trends
Fed's Dovish Surprise: Will PCE Amplify Further Next Week?
In January, the U.S durable goods orders have fell 6.1% vs -4.5% expected, marking the largest decrease in nearly four years, while business investment in equipment appeared to have eased, indicating a decrease in economic momentum at the beginning of the year.The UK's Gross Domestic Product (GDP) experienced a contraction of -0.3% in Q4, worse than the expected decline of -0.1%. This downturn was attributed to declines across all primary sectors and caused the UK to enter a technical recession.
Dollar Rebounds Strongly on Upbeat Economic Data
Yesterday witnessed a pronounced rally in the dollar index (DXY), effectively nullifying the losses incurred in the preceding session, with the dollar now vying to surpass its prior resistance level at $104.15. This resurgence was underpinned by encouraging economic indicators, including robust job market data and PMI figures that exceeded market expectations.
Today's Market Spotlight
Market Review | March 22, 2024
MHMarkets：2024.03.21 MHM European Time Analysis
In the forex markets, the U.S. dollar saw a decline against other major currencies, influenced by the Federal Reserve's unwavering stance on its rate-cut strategy despite high inflation figures. The dollar index dipped to 103.42.
MHMarkets：March 21, 2024 Economic Highlights
On Wednesday, following the Fed's interest rate decision, bets on interest rate cuts increased, causing the U.S. dollar index to plummet, closing down 0.40% at 103.4. The benchmark 10-year U.S. Treasury yield ended at 4.2730%, and the 2-year yield, most sensitive to Fed policy rates, closed at 4.6040%.
The Federal Reserve maintains its expectation of interest rate cuts unchanged, and the US dollar saw a significant decline on Wednesday Gold surged over $60, reaching a new historical high
The Federal Reserve maintains its expectation of interest rate cuts unchanged, and the US dollar saw a significant decline on Wednesday Gold surged over $60, reaching a new historical high
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Market's Spotlight
Market Review | March 21, 2024
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.
Today's Economic Spotlight
Market Review | March 20, 2024
Today's Economic Spotlight
Market Review | March 20, 2024
Today's Economic Spotlight
Market Review | March 20, 2024
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