At the start of Monday, major currency pairs hovered around their closing levels from the previous week.
The market has digested strong PPI data, and the US dollar rebounded last Friday but encountered resistance and fell back to consolidate. Gold has once again stabilized at the psychological level of $2,000
Last Friday, another set of hot inflation data weakened the prospects of a rate cut by the Federal Reserve, sending the US dollar index to refresh its daily high during the session.
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This surge in the Dollar coincided with Chinese markets closing for the Lunar New Year, contributing to heightened market dynamics.
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In currency markets on February 15
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
Index / Stocks / Crypto / Metals / Commodity & Futures / Forex
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
On Thursday, the Australian Dollar (AUD) staged a recovery, erasing its recent losses amid a risk-on market mood, despite the US Federal Reserve's (Fed) insistence on maintaining high interest rates to steer inflation back to its 2% goal.
On Wednesday (February 7), a record number of 10-year U.S. Treasury auctions surprisingly held steady, with Treasury yields briefly falling before rebounding. The benchmark 10-year Treasury yield returned to below 4.10% at one point but quickly rose back above 4.10%; the rate-sensitive two-year Treasury yield re-entered above 4.40%
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Gold prices struggle to gain momentum in Wednesday's European session, following a positive move overnight, as expectations of a hawkish Federal Reserve dampen enthusiasm.
On Thursday, the US Dollar Index reversed its upward trend under pressure from a strengthening British Pound, falling back to the vicinity of the 103 level, close to its level before the Federal Reserve's interest rate decision was announced on Wednesday, ultimately closing down 0.446% at 103.06. As concerns over a resurgence in the banking crisis offset the cooling expectations for interest rate cuts, the yield on 10-year US Treasury notes fell below the 3.9% mark, ultimately closing at 3.882%,