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Oil and gold prices experience sharp gains amidst escalating geopolitical tensions triggered by Israel’s strikes on targets in western Iran in response to recent attacks. Of particular concern is Isfahan, a city housing military bases, facilities, and crucially, nuclear sites including the main technology center, although Iran assures the safety of its nuclear facilities. Brent crude […]
Gold prices embark on another attempt to breach the $2,400 mark as geopolitical tensions loom large. Despite hawkish undertones from the Federal Reserve, the US dollar retraces alongside Treasury yields, fostering a resurgence in risk appetite. Market sentiment prompts profit-taking on long US dollar positions, prompted by the rally spurred by Fed Chair Jerome Powell’s hawkish remarks earlier
Gold Makes Another Bid for $2,400 Amidst Geopolitical Jitters, Dollar Retraces Read More »
The dollar maintains its upward trajectory amid expectations of prolonged higher US interest rates, fueled by hawkish remarks from Fed Chair Jerome Powell. Powell’s indication that policymakers will exercise patience in slashing rates, given persistent high inflation readings, has reinforced market sentiment for a delayed easing cycle. Today’s release of the Beige Book, along with insights
Dollar Strengthens on Powell’s Hawkish Tone, Eyes on Beige Book for Rate Outlook Read More »
The latest US jobs report underscores the continued resilience of the American economy despite facing elevated interest rates, prompting investors to turn their focus to the upcoming US Consumer Price Index (CPI) release this week. The CPI data will serve as a crucial gauge to determine whether the recent uptick in inflation is a sustained trend or
US Economy Shows Resilience as Attention Shifts to Inflation Data Read More »
Israeli Prime Minister Benjamin Netanyahu reaffirmed his country’s commitment to confront Iran and its allies during a security cabinet meeting, asserting that Israel would retaliate against any threats. Meanwhile, President Joe Biden conveyed to Netanyahu during a call that US support for Israel’s actions would hinge on efforts to minimize harm to civilians. The remarks from Netanyahu
Netanyahu Vows Action Against Iran as Oil Prices Surge Amid Geopolitical Tensions Read More »
Federal Reserve Chair Jerome Powell reiterated the central bank’s intention to potentially lower interest rates this year, maintaining a cautious stance while assessing economic conditions. Powell emphasized that recent inflation figures had not significantly altered the overall economic landscape, providing a boost to risk assets. This affirmation suggests that concerns in markets about the economy’s strength potentially
Powell Reaffirms Rate Cut Outlook, Easing Concerns Amid Inflation Data Read More »
Monday’s trading activity in the futures market suggests a potential shift towards a more hawkish sentiment regarding US interest rates. However, it’s important to note that expectations could evolve significantly as more data becomes available. The Institute for Supply Management’s manufacturing gauge climbed to 50.3 last month, indicating a halt to 16 consecutive months of contraction, albeit
Futures Market Signals Shift in US Rate Sentiment as Data Fuels Hawkish Outlook Read More »
Federal Reserve Chair Jerome Powell indicated on Friday that the central bank’s preferred inflation measure aligned closely with their expectations. Powell emphasized that it would not be prudent to lower interest rates until there is certainty that inflation is under control. Market sentiment suggests investors are anticipating the US central bank to enact its first rate
Fed Chair Powell Signals Caution on Rate Cuts Amid Inflation, Dollar Steady Read More »
The dollar edged slightly higher against its Group-of-10 counterparts, maintaining a marginal strength, while the offshore yuan saw minimal movement following renewed support from the People’s Bank of China. Meanwhile, the yen faced downward pressure, sliding to its lowest level against the dollar since 1990. This decline followed hawkish remarks from a Bank of Japan board
Dollar Strengthens Modestly Amid Mixed Market Sentiment Read More »
As traders brace for a flurry of risk events in the days ahead, caution prevails across global markets. A key focal point is the upcoming release of the US government’s personal consumption expenditures price index, scheduled for Good Friday, coinciding with the closure of local markets. The anticipation is further fueled by an address from Federal Reserve Chair
Traders Caution Heightens Amid Upcoming Risk Events Read More »