Monthly Archives: April 2024
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
Dollar Bolsters By Upbeat Economic Data
Written on April 19, 2024 at 6:15 am, by
Market Summary The dollar index (DXY) saw an uptick yesterday amid favourable economic indicators, reinforcing the perception of a robust U.S. economy. Notably, the growth in Durable Goods Orders from -6.9% to 1.4% for February indicates ongoing consumption growth, potentially fueling persistent inflationary pressures. This development has caused a recalibration of market expectations regarding theContinue Reading
Market Trades Dully Ahead Of PCE
Written on April 19, 2024 at 6:14 am, by
Market Summary The market exhibited relative quietness in yesterday’s trading session as investors positioned themselves ahead of Friday’s release of the PCE index. There is a palpable sense of confusion among market participants regarding the Federal Reserve’s forthcoming monetary policy. While the U.S. central bank remains steadfast in its commitment to implementing rate cuts thisContinue Reading
