{"id":78148,"date":"2023-01-10T05:09:42","date_gmt":"2023-01-10T01:09:42","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=78148"},"modified":"2023-01-10T05:14:47","modified_gmt":"2023-01-10T01:14:47","slug":"market-drivers-us-session-09-01-2023","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-09-01-2023\/01\/10\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session 09\/01\/2023"},"content":{"rendered":"\n

The US dollar started the trading week with losses amid optimism weighing on the American currency\u2019s safe-haven standing. Investors and traders are assessing US macroeconomic data published on Friday, which suggests the Federal Reserve could slow the pace of tightening after wages-linked data.

The EUR\/USD pair hit 1.0760, holding on to gains despite Eurozone data. GBP\/USD trades at 1.2200, benefiting from the broader dollar\u2019s weakness.

Commodity-linked currencies advanced at the beginning of the day, spending the last two sessions consolidating near their daily peaks versus the US dollar. AUD\/USD pair trades around 0.6930, while USD\/CAD is down to 1.3370. The Japanese Yen appreciated against the US Dollar, with the pair down to 131.50.

Gold holds on to its latest gains and trades around $1,875 per ounce. However, crude oil prices ended the day little changed, with WTI currently hovering around $74.70 per barrel.

Key Developments
<\/strong>
China announced the re-opening of sea and land crossings with Hong Kong, which were closed three years ago. Asian stocks posted substantial gains, leading the way higher for their overseas counterparts. It is worth noting that Wall Street trimmed a good bunch of its intraday gains ahead of the close.

On Monday, Fed\u2019s Mary Daly said that 50 bps or 25 bps are on the table for the next FOMC meeting. Fed\u2019s Raphael Bostic noted that rates should rise to 5% or 5.25%. Both Fed officials pledged more hikes in order to get inflation under control before any pause.


Economic Data
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CNN\u2019s Money Fear and Greed index moved to the “Neutral” zone after US stocks recorded sharp gains on Friday. Monday witnessed no significant economic data releases.

<\/p>\n\n\n\n

What to expect on Tuesday<\/strong><\/p>\n\n\n\n

On Tuesday, the remarkable event will be the speech by Fed chair Jerome Powell, which will shatter ambiguity over February\u2019s monetary policy decision. Raphael Bostic\u2019s remarks were full of information that will guide investors for further action.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Also Read<\/strong><\/p>\n\n\n\n

USD\/CHF rebounds ahead of Powell\u2019s speech<\/a><\/p>\n\n\n\n

GBP\/USD surpasses 1.2150, benefits from weaker US Dollar<\/a><\/p>\n\n\n\n

Bitcoin rallies to 3-week highs ahead of US CPI<\/a><\/p>\n\n\n\n

Why Is Wall Street Suddenly Celebrating On Thursday?<\/a><\/p>\n\n\n\n

Fed\u2019s Bostic Prefers Holding Rates Above 5% For A Long Time<\/a><\/p>\n\n\n\n

AUD\/USD hits fresh five-month high on weaker US dollar<\/a><\/p>\n\n\n\n

Gold closer to eight-months highs as US Dollar retreats<\/a><\/p>\n\n\n\n

EUR\/USD climbs to 4-week highs past 1.0730<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar started the trading week with losses amid optimism weighing on the American currency\u2019s safe-haven standing. Investors and traders are assessing US macroeconomic data published on Friday, which suggests the Federal Reserve could slow the pace of tightening after wages-linked data.The EUR\/USD pair hit 1.0760, holding on to gains despite Eurozone data. GBP\/USD …<\/p>\n","protected":false},"author":13,"featured_media":52794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6874,7163,8367,8671],"class_list":["post-78148","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gold","tag-jerome-powell","tag-us-dollar","tag-us-session"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=78148"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78148\/revisions"}],"predecessor-version":[{"id":78155,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/78148\/revisions\/78155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52794"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=78148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=78148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=78148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}