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On Wednesday, the US Dollar Index surged before falling, dropping below the 103 mark, closing down 0.119% at 102.81. US Treasury yields rebounded, with the benchmark 10-year Treasury yield closing at 4.1879% and the 2-year Treasury yield, most sensitive to Fed policy rates, closing at 4.6324%.
WCG Markets:2024-03-14
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
In the recent forex market movements, the U.S. dollar saw a slight increase against major currencies, bringing the dollar index to 102.93. Noteworthy was the EUR/USD pair, which slightly decreased by 4 pips to 1.0922, while the USD/JPY pair experienced a rise of 73 pips to 147.67.
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US CPI data hits expectations of rapid interest rate cuts, causing a slight increase in the US dollar The gold prices rose back about $30
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On Tuesday, following the release of higher-than-expected U.S. CPI data for February, the U.S. Dollar Index sharply rose during the U.S. session, breaking through the 103 level at its peak, and finally closed up 0.082% at 102.93. U.S. Treasury yields started low but moved higher, with the benchmark 10-year U.S. Treasury yield closing at 4.1507%, and the 2-year yield, most sensitive to Fed policy rates, closing at 4.5842%.
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Market Review for March 13, 2023
Market Review for March 13, 2023
Market Review for March 13, 2023
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
In the latest market summary, the U.S. dollar index remained unchanged at 102.84, demonstrating stability in the forex markets. The EUR/USD and GBP/USD experienced minor declines, while the USD/JPY, AUD/USD, and USD/CHF saw slight adjustments, reflecting a mixed performance across major currencies.
On Monday, the U.S. Dollar Index rebounded, approaching 103 at its highest, before closing up 0.108% at 102.85, due to the resilience of the U.S. economy and the market's belief that the fall in the Dollar Index was "too much." U.S. Treasury yields rose, with the benchmark 10-year Treasury yield closing at 4.0982% and the 2-year Treasury yield, most sensitive to Fed policy rates, at 4.5381%.
The US dollar's trend shifted, Gold stays robust from rate cuts, and traders prep for US CPI.
The U.S. financial markets remained relatively calm in anticipation of the forthcoming Consumer Price Index (CPI) reading, slated for release later today. This inflation data is seen as a critical determinant for market speculation on the timing of potential monetary policy moves by the U.S. Federal Reserve.
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