Monthly Archives: March 2024
Poor PMI Reading Weigh On Dollar’s Strength
Written on March 12, 2024 at 5:44 am, by
* Poor ISM PMI readings put pressure on dollar strength. * Traders’ eyes on Tokyo Core CPI due tomorrow to gauge the Yen’s strength. * OPEC+ will extend oil supply cuts to the second quarter of 2024 to avert a global surplus. Market Summary Last week’s release of ISM PMI readings, which fell short ofContinue Reading
U.S. PCE Reading Boost Dollar Strength
Written on March 12, 2024 at 5:42 am, by
The much-anticipated U.S. PCE reading, the Federal Reserve’s preferred inflation gauge, was released yesterday, meeting market expectations at 2.4%. The much-anticipated U.S. PCE reading, the Federal Reserve’s preferred inflation gauge, was released yesterday, meeting market expectations at 2.4%. As the market awaits comments from Federal Reserve officials regarding the PCE inflation gauge, gold prices haveContinue Reading
Dollar Eases On Low GDP Growth
Written on March 12, 2024 at 5:41 am, by
The Dollar Index underwent considerable volatility, fluctuating within a range of approximately 0.3% in the recent session. The Dollar Index underwent considerable volatility, fluctuating within a range of approximately 0.3% in the recent session. This movement followed a mixed bag of U.S. economic data. On one hand, the last quarter’s U.S. GDP growth came inContinue Reading
