Monthly Archives: April 2024
Dollar Fuels By Powell Hawkish Statement
Written on April 19, 2024 at 6:48 am, by
Market Summary The market’s attention has shifted from Middle East tensions to remarks made by Federal Reserve Chair Jerome Powell. Powell’s recent speech signals that the U.S. central bank may opt to maintain interest rates at elevated levels for an extended period, given the backdrop of robust economic indicators and surprisingly high inflation readings. ThisContinue Reading
Upbeat U.S. Retail Sales Boost Dollar
Written on April 19, 2024 at 6:40 am, by
Market Summary In yesterday’s trading session, the U.S. dollar saw appreciable gains, buoyed by stronger-than-expected U.S. Retail Sales data. This robust economic indicator has led market participants to speculate that the Federal Reserve might delay any prospective rate cuts due to persistent inflationary pressures. Amid ongoing geopolitical tensions in the Middle East, gold, a traditionalContinue Reading
Safe-Haven Surge Amid Rising Middle East Tensions
Written on April 19, 2024 at 6:39 am, by
Market Summary Gold surged past $2400 per troy ounce, hitting record highs driven by geopolitical tensions and global uncertainty before retracing as technical indicators signalled overheating, prompting profit-taking. Despite this, gold saw a remarkable 20% surge since mid-February, catching investors off guard amid talks of Federal Reserve interest rate cuts. Geopolitical tensions escalated as IranContinue Reading
