Market Review for March 13, 2023
Market Review for March 13, 2023
Market Review for March 13, 2023
【Dow Jones】 【Euro】 【Gold】 【Crude Oil】
In the latest market summary, the U.S. dollar index remained unchanged at 102.84, demonstrating stability in the forex markets. The EUR/USD and GBP/USD experienced minor declines, while the USD/JPY, AUD/USD, and USD/CHF saw slight adjustments, reflecting a mixed performance across major currencies.
On Monday, the U.S. Dollar Index rebounded, approaching 103 at its highest, before closing up 0.108% at 102.85, due to the resilience of the U.S. economy and the market's belief that the fall in the Dollar Index was "too much." U.S. Treasury yields rose, with the benchmark 10-year Treasury yield closing at 4.0982% and the 2-year Treasury yield, most sensitive to Fed policy rates, at 4.5381%.
The US dollar's trend shifted, Gold stays robust from rate cuts, and traders prep for US CPI.
The U.S. financial markets remained relatively calm in anticipation of the forthcoming Consumer Price Index (CPI) reading, slated for release later today. This inflation data is seen as a critical determinant for market speculation on the timing of potential monetary policy moves by the U.S. Federal Reserve.
Insights from Trading Central's Global Research Desks
WCG Markets:2024-03-12
The forex market saw the U.S. dollar index experiencing its most significant weekly decline of the year, dropping 1.11% to settle at 102.74. The euro saw a slight decline against the dollar, dropping to 1.0935 despite Germany's industrial production exceeding expectations.
Last Friday, the U.S. dollar index fluctuated within a range during the Asian and European trading sessions but plummeted during the U.S. session due to an unexpected rise in the February unemployment rate.
CWG MARKETS Holiday Trading Schedule
As Europe is about to end Daylight Saving Time and enter Summer Time on March 11, 2024, our time zone will change from GMT+2 to GMT+3.
The US employment data is negative, US dollar continues to decline Gold hits a new high, approaching the $2,200 mark
Key Takeaways from Trading Central's Analysis
WCG Markets:2024-03-11
In the realm of foreign exchange markets, the U.S. dollar exhibited a decline against a basket of major currencies, influenced by Federal Reserve Chairman Jerome Powell's dovish remarks on potential rate cuts.
Dear Valued Clients, We would like to inform you that due to the start of US Daylight Saving Time, there will be adjustments to the trading hours for specific instruments effective Sunday, 10 March 2024 as the platform hours shift from GMT+2 to GMT+3.
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