The Chairman of the US central bank, Jerome Powell, participates in a discussion at the Macroeconomics and Monetary Policy Conference, in San Francisco. Earlier on the same day the PCE data was released and came in line with consensus.As for market’s reaction; the US dollar ticked higher as an immediate …
Read More »Does PCE data support Fed’s ‘higher for longer stance’?
The US Bureau of Economic Analysis reports that after rising by 2.4% in January, the US Core PCE inflation rate climbed to 2.8% YoY in February. This is in line with market estimates and comes after a 2.4% gain in January. While the monthly result showed 0.3% as expected, the …
Read More »USD/JPY retreats following PCE data
The USD/JPY pair dipped following February’s Core PCE data, indicating a gradual cooling of inflation but concerns linger. Fed officials maintain a cautious outlook on rate cuts, awaiting further evidence of sustained disinflationary trends.The US Core Personal Consumption Expenditure (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed prices …
Read More »Oil Extends Growth for Third Consecutive Month
On Friday, oil prices surged, extending their upward trajectory for the third consecutive month, as investors eagerly awaited OPEC+’s decision next week regarding its production policy, alongside concerns over increased US inventories. Brent crude saw a notable increase of 69 cents, reaching $86.92 per barrel from its opening price of …
Read More »Gold Prices Achieve Highest Monthly Performance in Three Years
On Thursday, March 28th, gold prices soared to unprecedented heights, marking their best monthly performance in three years, buoyed by anticipation of interest rate cuts and robust demand for safe-haven assets. Gold futures surged by approximately 1.2% to settle at $2,238.4 per ounce by the end of the session. Meanwhile, …
Read More »Japan Warns Against ‘Speculative’ Yen Fluctuations, Signals Potential Intervention
Japanese Finance Minister Shunichi Suzuki reiterated on Friday that recent declines in the yen were driven by “speculative” moves, signaling that authorities remained ready to intervene in the market to counter any excessive drops in the currency. Suzuki emphasized that authorities were closely monitoring the pace of the yen’s movements …
Read More »Japan Stocks Retreat at Close; Nikkei 225 Falls by 1.46%
On Friday, Japan stocks closed lower, with losses primarily in the Fishery, Railway & Bus, and Finance & Investment sectors. At the close in Tokyo, the Nikkei 225 declined by 1.46%. Among the session’s top performers on the Nikkei 225 were Mitsubishi Heavy Industries, Ltd., which rose by 5.93% or …
Read More »CAD below the psychological barrier 29/3/2024
The Canadian dollar encountered resistance at the psychological barrier of 1.3600, a level that has historically provided stability and recently led to negative trading momentum, with the pair currently hovering around 1.3550. In terms of technical analysis today, our inclination leans towards a bearish outlook, albeit cautiously, as we observe …
Read More »USD/JPY is waiting for a new signal 29/3/2024
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Read More »GBP awaits further decline 29/3/2024
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