Monthly Archives: April 2024
Dollar Eases Ahead Of Jerome Powell Speech
Written on April 19, 2024 at 6:22 am, by
Market Summary The U.S. stock market experienced a significant decline yesterday, with all three major indexes dropping by approximately 1%. This downturn occurred as U.S. long-term Treasury yields surged to their highest level since last December, fueled by robust economic data suggesting that the Federal Reserve might postpone interest rate cuts. However, the dollar indexContinue Reading
Upbeat PMI Readings Bolsters Dollar
Written on April 19, 2024 at 6:21 am, by
Market Summary The dollar index (DXY) surged by nearly 0.5% in the previous session, propelled by the robust ISM PMI readings surpassing the 50-mark threshold, signalling sustained economic growth in the United States. Federal Reserve Chair Jerome Powell’s relatively dovish remarks last Friday, following the release of the PCE reading within expectations, fostered market anticipationContinue Reading
Dollar Gains On Upbeat U.S. GDP Data
Written on April 19, 2024 at 6:18 am, by
Market Summary The Dollar surged as upbeat U.S. GDP data, surpassing expectations at 3.4%, fueled speculation of a Federal Reserve pullback on anticipated rate cuts, heightening investor confidence in the currency. Concurrently, safe-haven gold experienced significant bullish momentum as investors hedged portfolios ahead of pivotal events despite the dollar’s ascent. Eyes are keenly set onContinue Reading
