Market Update

Janet Yellen, secretary of the US Treasury, Cecila Rouse, and Shalanda Young, director of the Office of Management and Budget, are testifying before the House Appropriations Financial Services Subcommittee. Treasury futures are climbing higher across the board in late trade as a result of these significant remarks. Although yield curves …

The price of several cryptocurrencies moved higher on Thursday after the Fed’s March meeting yesterday, as well as due to some token-specific news. The price of Bitcoin, the biggest cryptocurrency in the world, has increased by around 4.8% since late yesterday afternoon, reaching a high of $28,700. Bitcoin is trading …

Japan is expected to release February Consumer Price Index data that will be the main market driver on Friday. Forecasts by the economists and researchers of four major banks were published regarding the upcoming Japanese inflation data. Headline is expected at 3.3% year-on-year vs. 4.3% in January, core (ex-fresh food) …

The GBP/USD currency pair oscillates near a seven-week high and pauses a two-day rise. BoE announced a rate increase of 0.25%, matching market expectations, and signalling its preparedness for more if inflation remains high. Treasury bond yields and the US dollar are affected by the Fed’s less hawkish raise as …

In March’s flash estimate, the Consumer Confidence Index was lower than anticipated. The EUR/USD currency pair is still trading slightly above 1.0900.The Consumer Confidence Index, which measures consumer sentiment in the Eurozone, decreased slightly from -19.1 in February to -19.2 in the March flash estimate. This figure was weaker than …

The US Department of Labor (DOL) released its weekly figures on Thursday, showing that there were 191,000 new claims for unemployment benefits during the week ending March 18. This print exceeded the market forecast of 201,000 and followed the previous week’s print of 192,000. The advance seasonally adjusted insured unemployment …

Following its March policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.25% as expected. Two policymakers, Tenreyro and Dhingra, vote to keep the policy rate on hold at 4%. “If there were to be evidence of more persistent pressures, then …

Gold prices extended gains on Thursday after the Federal Reserve indicated that the end of the monetary tightening cycle may be on the horizon. Gold in the spot market rose 0.4 percent to $1,976.80 an ounce by 0910 GMT, while US gold futures rose 1.5 percent to $1,979.20. The dollar …

European stocks opened lower on Thursday, after a weak trading session on Wall Street the day before, when the Federal Reserve announced a widely expected rate hike of 25 basis points, and hinted it might suspend monetary tightening soon. The pan-European Stoxx 600 index was down 0.4% by 0808 GMT, …

Thursday saw gains in the majority of Chinese technology equities, with Tencent shares rising substantially after the internet giant reported stronger-than-expected annual results. Less aggressive signals from the Federal Reserve also helped to boost mood. Tencent Holdings Ltd. gained more than 6% to HK$368.40 per share and was poised for …