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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 Dominance: Fed’s Hawkish Remarks

Written on April 19, 2024 at 6:20 am, by

Market Summary The Dollar Index extended its upward trend, buoyed by hawkish remarks from Federal Reserve officials and robust inflation figures, including the Personal Consumption Expenditures (PCE) Price Index hitting 2.5% annually. Concurrently, safe-haven gold surged to record highs amidst subdued market sentiment, although concerns lingered regarding the Federal Reserve’s inflation-fighting stance. Attention now turnsContinue Reading

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