The prediction for gold today hasn't seen significant changes yet, perhaps it will be observed in the afternoon or evening, as it seems to be awaiting news releases or updates related to the USD.
The EUR/JPY cross extends its downside near 156.60 during the early European session on Thursday. That being said, the upward revision of economic growth estimates by the Japanese government lifts the Japanese Yen (JPY) and creates a headwind for the EUR/JPY cross.
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Daily Analysis of Stock Movements, Bond Yields, and Economic Indicators - December 22, 2023
WCG Markets:2023-12-22
The major US indexes have demonstrated further upward momentum this week. The market was taken aback as the Federal Reserve unexpectedly projected three rate cuts for 2024, surpassing the initial expectation of two cuts.
At the end of the Asian market on Thursday (December 21), the Fed Barkin announced that if the recent progress of inflation continues, the Fed will cut interest rates.
On Wednesday, the U.S. dollar index firm to maintain above the 102 mark, the plate once rose to 102.54 intraday highs, and finally closed up 0.3% at 102.44. U.S. bond yields have been down, the 10-year U.S. bond yields lost 3.9% mark, and ultimately closed at 3.853%; on the Fed's policy rate is more sensitive to the yield of two-year U.S. bonds closed at 4.340%.
The major US indexes have demonstrated further upward momentum this week. The market was taken aback as the Federal Reserve unexpectedly projected three rate cuts for 2024, surpassing the initial expectation of two cuts.
Hedge buying drives up the US dollar The sharp decline in UK inflation rate hits the pound
Analyzing the Latest Shifts in Stocks, Bonds, Commodities, and Forex Markets
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
WCG Markets:2023-12-21
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
At the end of the Asian session on Wednesday (December 20), Chicago Fed President Austan Goolsbee stated that the market may be a bit ahead of expectations for interest rate cuts, and added that such easing measures would only be reasonable if inflation continued to cool and approach the Fed's target.
On Tuesday, the U.S. dollar index dived in the U.S. pre-market session and approached the 102 mark for a while, eventually closing down 0.38% at 102.11. U.S. bond yields edged lower, with the 10-year U.S. yield falling to an intraday low of 3.894% during the session before recovering some of the lost ground to close at 3.931%; the two-year U.S. yield, which is more sensitive to the Fed's policy rate, closed at 4.441% .
U.S. Stocks: Rally driven by Fed's rate cut hint, Dow Jones hits record close of 37,557. Nasdaq 100 and S&P 500: Record closes, strong sector gains in automobiles, energy, and consumer durables. Key Stock Movements: Tesla, Meta, Alphabet, Apple, Affirm Holdings, Block Inc, PayPal, Bitcoin-related stocks. U.S. Economic Data: Building permits and housing starts, European market closes. Oil Prices: Firm amid Red Sea trade disruptions, U.S. WTI at $74.07 a barrel. Gold: Price increase to $2,040 an o
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WCG Markets:2023-12-20
The emergence of potential rate cuts in 2024 is instilling greater investor confidence, leading to new record highs for equity indices and a decrease in Treasury yields. Recent indications from Wall Street are further reinforcing the belief that the economy is heading for a gentle landing in 2024. This anticipated scenario involves a gradual slowdown facilitated by strategic adjustments in monetary policy.