Monthly Archives: March 2024
Gold Surges To Record Highs As Gloomy Outlook
Written on March 12, 2024 at 5:49 am, by
Market Summary The US Dollar faces challenges as key employment indicators present a mixed picture, with a disappointing unemployment rate and hourly earnings figures contrasting with a robust non-farm payroll report. The US Unemployment rate and Average Hourly Earnings came in at 3.90% and 0.10%, respectively, both worse than the expected 3.70% and 0.2%. However,Continue Reading
Dollar Faces Strong Headwind From Dovish Fed
Written on March 12, 2024 at 5:47 am, by
* The dollar Index (DXY) continues to plunge due to persistent dovish messages from Jerome Powell. * Gold prices continue to break their all-time high level and currently face strong resistance at the $2160 mark. * BTC has rebounded and is back to $67000 territory. Market Summary The dollar is currently experiencing downward pressure, aContinue Reading
Dovish Powell’s Testimony Hammers Dollar
Written on March 12, 2024 at 5:46 am, by
* The dollar index traded to its one-month low after a Dovish Testimony by Jerome Powell. * The soft dollar has pushed the gold to break its all-time high levels with strong bullish momentum in sight. * BTC rebounded and is back to $67000 territory. Market Summary The Powell testimony that began yesterday brought anContinue Reading
