Financial markets witnessed a very volatile week as investors and traders tended to believe that officials’ efforts to calm banking turbulence would allay concerns that the 2008 financial crisis would recur. Recent central banker statements that sounded less hawkish are bolstering the cautious optimism. In particular, today’s light calendar and …
Read More »US stocks end volatile week in the green territory
US stocks closed in positive territory on Friday after a volatile week following the Federal Reserve’s interest rate decision on Wednesday and further pressure in the banking sector. The S&P 500, which fell as much as 1% in early Friday trading, ended up 0.57%. The Dow Jones and technology-heavy Nasdaq …
Read More »GBP/USD retreats amid resurgent dollar demand
The GBP/USD pair comes under intense selling pressure on Friday and extends the overnight retracement slide from the vicinity of mid-1.2300s, or its highest level since February. Spot prices, however, manage to rebound a few pips from the daily low and trade above the 1.2200 mark during the early North …
Read More »Market Drivers – US Session 23/03/2023
Silver increased beyond $23.00 while Gold once more increased and went above $2,000 before stabilizing at $1991.54 at the time of writing. Following its decline on Wednesday, Bitcoin increased to $28,500. After gaining ground for the majority of the day, the price of crude oil decreased by more than 1%. …
Read More »Why is Bitcoin surging on Thursday?
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 …
Read More »GBP/USD pares post-BoE gains ahead of UK Retail Sales, PMI
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 …
Read More »Market Drivers – US Session 22/03/2023
Following the Fed’s decision on monetary policy, Wall Street finished lower after a turbulent session. The US Federal Reserve lifted rates by 25 basis points as predicted. When the Federal Reserve strikes a balance between rising inflation and banking instability, the tightening cycle is about to come to an end. …
Read More »Less Hawkish Fed Pushes Silver, Gold , Copper Higher
Following the Fed’s less hawkish announcement of its 25 bp interest rate hike on Wednesday, the price of silver surges upward. The Federal Open Market Committee Announcement noted “some additional policy firming,” and the dot plot median indicated one more hike. As a result, the Fed’s decision was largely anticipated.Prior …
Read More »Powell: Too early to say if recent effects change odds of soft landing
FOMC Chairman Jerome Powell comments on the policy outlook after the Federal Reserve’s decision to raise the policy rate by 25 basis points to the range of 4.75-5% following the March policy meeting. Key Quotes “We have the tools to protect depositors when there is the threat to economy, and …
Read More »Fed hikes interest rate by 25 basis points as expected
The US Fed announced on Wednesday that it raised the policy rate, federal funds rate, by 25 basis points to the range of 4.75-5% following the March policy meeting. This decision came in line with the market expectation. Summary of Economic Projections, known as the dot plot, will shape how …
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