Stronger than expected Manuf ISM and consumer sentiment figures from the US are further empowering the notion that the US growth exceeds that in Europe and Japan, boosting the US dollar across the board. This is also used to explain why both USD and equities are pushing higher. Markets expect the sequester deadline will be avoided and another temporary solution will be introduced. Meanwhile, the Italian election impasse is expected to persist until Mid March when a temporary govt is appointed until a possible 2nd round of elections in June. 7 Premium trades hit their final targets over the last 24 hours: Both shorts in GBPUSD hit their targets of 1.5010 & 1.5100 (entries at 1.5170 and 1.5220). Gold hit 1580 & 1567 (entries at 1620 & 1597). Silver hit 28.00 from 29.10 entry. The EURGBP long at 0.8590 missed the final 0.8690 by 3 pips and remains in progress. Oil short at 93.20 hit final target of 92.00, while the 93.40 missed the fill by 3 pips. Yesterday's 2 shorts in EURUSD from 1.3110 to 1.3040 missed the fill by 7 pips, while both longs remain in progress.
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AUD/USD pressured as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.
Billowing clouds of apprehension
Thursday marked the fifth consecutive session of decline for US stocks as optimism regarding multiple interest rate cuts by the Federal Reserve waned. The downturn in sentiment can be attributed to robust economic data releases, prompting traders to adjust their expectations for multiple rate cuts this year.