US equities closed Monday in the red as Powell maintained his hawkish stance, dampening rate cut expectations. In a speech on Sunday, the Fed chair said that inflation in the US needs to show a consistent downtrend for rate cuts to start. According to the central bank, inflation remains high. Therefore, the economy still needs Read More…
Friday was a down day for currency futures as the dollar rallied to a seven-week high after upbeat employment data. Investors were surprised after the US non-farm payroll figures were much higher than expected. As a result, there is an even lower chance that the Fed will start cutting rates in March. US jobs (Source: Read More…
Interest futures rose on Thursday as Treasury yields declined due to concerns about the US banking sector. The US Treasury Bond (ZB) futures and the 10-year T-Note (ZN) futures ended Thursday on a bullish note. Meanwhile, investors continued to absorb Powell’s remarks on Wednesday, which confirmed that rate cuts would come later than March. Concerns Read More…
Oil fell on Wednesday due to poor economic activity data from China and a higher-than-expected increase in US crude oil inventories. According to data released on Wednesday, manufacturing activity in China dropped for the fourth month in January. China is a leading oil importer. Therefore, a decline in economic activity in the country means a Read More…
Gold rose on Tuesday, reaching a two-week high as the dollar and Treasury yields declined. Investors were focused on the looming Fed decision on Wednesday, where they expect the central bank to keep rates unchanged. The big question for gold traders is when the Fed will start cutting rates. When interest rates in the US Read More…
On Monday, US equities surged as investors anticipated a week packed with mega-cap earnings, economic data, and the Fed’s monetary policy meeting. All three major US stock indexes moved higher. The Nasdaq, focused on tech stocks, led with the most significant percentage gain. Meanwhile, the S&P 500 set another record closing high. Ryan Detrick, Chief Read More…
