Market Overview - Page 83

In just ten days, gold has risen by 11% or around $200. At the start of the day on Monday, the price was approaching $2010. Historically, this is thin-air territory for gold. Despite the threat of a short-term pullback to.

Market picture Bitcoin jumped 24% last week to close at $28K. Ethereum added 16.2% to $1800. Other leading altcoins in the top 10 gained between 6.6% (Polkadot) and 19.3% (BNB). The total capitalisation of the crypto market, according to CoinMarketCap,.

US inflation expectations are declining, which could be good news for the stock market, suggesting less pressure on the Fed to raise interest rates. The University of Michigan’s inflation expectations index for the year ahead fell to 3.8%, the lowest.

The US consumer price index rose 0.4% in February, slowing the annual rate to 6.0%, in line with economists’ expectations. The core price index, which excludes food and energy, rose 0.5% for the month (0.4% expected) and slowed slightly to.

Unemployment claims in the UK fell by 11.2k in February, against analysts’ average forecast of a rise of 12.5K. Jobless claims have fallen by nearly 50K over the past three months after a sustained period of stabilisation, a sure sign.

Oil reversed sharply from bullish to bearish on Tuesday, losing around 6.5% and below $75/bbl WTI. The reversal fits neatly into a tapered triangle pattern, with a setback from the upper boundary earlier in the week to the lower boundary..

USDCAD has been rallying this week, gaining 1.7% since Tuesday and testing the five-month high of 1.3850. The pair looks vulnerable to both a short-term correction and the potential for a longer-term reversal. The US Dollar has enjoyed gains after.

China’s consumer price growth fell to 1.0% y/y, a sharp slowdown from 2.1% y/y and against expectations of 1.9% y/y. Producer prices continued their deflationary slide in February, falling 1.4% y/y, versus -0.8% in the previous month and a slightly.

The Federal Reserve chief’s speech to Congress has suddenly proved to be a market troublemaker. The Dollar Index has gained more than 1.1% after Powell’s hawkish comments opened the door to a 50-basis point rate hike in March. Interest rate.

Europe continues to surprise with statistics, suggesting more room for a hawkish tone from the ECB next week. In addition to hawkish inflation readings, data from Germany today highlighted a continued recovery in industrial orders. Destatis reported a 1% rise.

For the past six trading sessions, an ounce of silver has been trading above $21.0 in both directions. The price has been falling for most of February, losing more than 17% from its high ($24.62) to its low ($20.41). Last.

The S&P500 and Nasdaq100 indices staged a solid intraday rebound yesterday, digesting the initial drop and closing the day higher. Along with the rebound in equities, a reversal to the downside is forming in the Dollar Index. Technically, the dollar’s.