Macro data boosting, the US dollar rebounded significantly yesterday Gold prices rise and fall, market focus shifts towards future trends

On Thursday (March 21), the unexpected interest rate cut by the Swiss central bank boosted the US dollar, coupled with strong economic growth in the United States, causing the US dollar index to fluctuate and rise, ultimately closing up 0.60% at 104. The benchmark 10-year Treasury yield closed at 4.2660%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.6430%.

Gold prices rose and fell on Thursday (March 21), and after Federal Reserve Chairman Powell hinted on Wednesday that there would be three interest rate cuts in 2024, gold gained additional upward momentum, reaching a historic high of $2222.65 per ounce. But as the US dollar index rebounded, gold prices gave up their gains.

Oil prices fell slightly on Thursday (March 21), retreating to support near the 10 day moving average, suppressed by weak US gasoline demand data and reports of a draft resolution calling for a ceasefire in Gaza by the United Nations.