Monthly Archives: April 2024
Oil Prices Plummet On Strong U.S. Crude Inventories Build-up
Written on April 19, 2024 at 6:49 am, by
Market Summary The U.S. dollar experienced a technical retracement, easing from its 2024 peak and breaking below the $106 mark. Despite this, robust U.S. economic performance and the Federal Reserve’s hawkish stance are expected to provide underlying support to the dollar. Concurrently, the easing dollar has allowed its peers to make gains, notably the JapaneseContinue Reading
Dollar Fuels By Powell Hawkish Statement
Written on April 19, 2024 at 6:47 am, by
Market Summary The market’s attention has shifted from Middle East tensions to remarks made by Federal Reserve Chair Jerome Powell. Powell’s recent speech signals that the U.S. central bank may opt to maintain interest rates at elevated levels for an extended period, given the backdrop of robust economic indicators and surprisingly high inflation readings. ThisContinue Reading
Upbeat U.S. Retail Sales Boost Dollar
Written on April 19, 2024 at 6:40 am, by
Market Summary In yesterday’s trading session, the U.S. dollar saw appreciable gains, buoyed by stronger-than-expected U.S. Retail Sales data. This robust economic indicator has led market participants to speculate that the Federal Reserve might delay any prospective rate cuts due to persistent inflationary pressures. Amid ongoing geopolitical tensions in the Middle East, gold, a traditionalContinue Reading
