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Market News

  USD The dollar index, which measures the greenback against a basket of major currencies, edged higher during the Asian session to 96.39 as investors await key economic data. The final reading of the first quarter GDP figures will be published today with the main focus being on the GDP price index. Earlier this week, DXY bounced off a three-month low following the comments of Fed officials which checked the aggressive easing prospects. The Federal Reserve Chairman Jerome Powell a...
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Dollar Index Rebounds on Fed Comments

  USD The dollar index which measures the greenback against a basket of major currencies rebounded from a three-month low of 95.84 to trade higher at 96.32 following Fed's comment. The Federal Reserve Chairman was talking about the economic outlook and monetary policy in New York yesterday. He confirmed that the current solid fundamentals are supporting continued growth and job creation, despite inflation running somewhat below target. The Fed will monitor closely further informat...
June 26, 2019

Gold Soars as Dollar Tumbles, Yields Sag

  Metals Gold prices hit a fresh six-year high during the Asian session as the dollar drifted lower along with US Treasury yields. The price of a gold ounce was finding heavy resistance near $1360 area for the past couple of years. However, the latest shift in the Fed's tone towards monetary policy boosted the demand for the bullion, which was able to breach the key resistance area and trade well above it. On the other hand, the escalating geopolitical tensions, especially between...
June 25, 2019

Greenback Extends Losses on Fed Easing Expectations

  USD The dollar index, which measures the greenback against a basket of major currencies, ended last week below the 200-day exponential moving average for the first time since April 2018 weighed down by the Fed's tone. The moving average and a trend-line combining DXY's lows since April 2018 acted as significant support for the buck during this period. The Federal Reserve opened the door for interest rates in the coming meetings to protect and ensure the current economic expansio...
June 24, 2019

US Stock-Index Futures Extend Gains on Rate Cut Hopes

  Equities Major US stock-index futures extended gains amid growing rate cut hopes. The Federal Open Market Committee opened the door for interest rate cuts to support economic expansion. Wall Street cheered the meeting outcome where the S&P500 futures closed at a record high of 2957 after trading at an intraday high of 2962. The Dow Jones Industrial futures advanced to 26812, and Nasdaq futures climbed to a seven-week high of 7821. USD The dollar index, which measures the gre...
June 21, 2019