Today's Market Review
Abstract：Market Review for March 6, 2023
| Dollar Slides as Weak US Data Fuels Rate Cut Hopes, Gold and Silver ShineThe US Dollar took another hit today as disappointing economic data fueled speculation of an imminent Fed rate cut. This news sent Gold and Silver soaring to record highs for 2024.The highly anticipated Super Tuesday primaries are happening today, with over a third of delegates up for grabs in both the Republican and Democratic races.Market Highlights:AUD/USD: Initially dipped following Australia's GDP data, potentially testing the 0.6481 support level.NZD/USD: Briefly bounced back but quickly retreated near the 0.6071 support, showcasing the Dollar's influence.EUR/USD: Continued its upward trend, challenging the 1.0875 resistance.GBP/USD: Unable to hold onto Tuesday's gains, revisiting the 50-day moving average.USD/CAD: Inched higher, testing the 1.3600 resistance as the BoC is expected to hold rates.USD/JPY: Weakened near the 149.56 support, remaining within its recent trading range.Commodities:Gold: Reached a new high of $2,141.94 on growing anticipation of Fed rate cuts.Silver: Continued its bullish run, approaching the $24.9 resistance.US Stocks:All major indices opened lower on Wednesday, with tech stocks leading the decline.S&P 500 closed at $5,084.87, Dow Jones ended at $38,598.40, and the NASDAQ fell below the $17,960 support.Overall, the weakening US Dollar and strong performance of Gold and Silver reflect growing market expectations of a Fed rate cut in the near future. However, key events like Powell's testimony and the ADP report could potentially shift the market sentiment. |
Read more
Key Economic Indicators Today
Market Review | August 7, 2024
Review 2024-08-07 11:02
Today's Hot Financial News
Market Review for March 29,2024
Review 2024-03-29 10:31
Today's Hot Financial News
Market Review for March 28,2024
Review 2024-03-28 11:47
Today's Hot Financial News
Market Review for March 13, 2023
Review 2024-03-13 12:13
WikiFX Broker
Latest News
The Dollar Keeps Falling: How Should We View Exchange Rate Volatility?
WikiFXAsia-Pacific markets mostly rise as investors parse a slew of data releases
WikiFXAsia-Pacific markets rise as investors parse a slew of data releases
WikiFXWikiFX Gala Night Malaysia Concludes Successfully
WikiFXIG Group Unlocks Over £425 Million amid a Capital Reduction
WikiFXGold Prices Fall by INR 39,300 in the Last Week? What's Next Week's Outlook?
WikiFXEuropean stocks open slightly higher as UK-U.S. trade deal cuts autos, aviation tariffs
WikiFXTreasury yields tick lower as Trump's spending bill in focus
WikiFXEuropean stocks mixed as UK-U.S. trade deal cuts autos, aviation tariffs
WikiFXRipple and SEC Drop Appeals, Bringing 5-Year Legal Saga to a Close
WikiFXRate Calc
USD
CNY
Current Rate: 0
Amount
USD
Available
CNY
Calculate