Short Market Recap (20/03/24)
Dollar:
Dollar:
- Dollar surges on heightened Fed hawkishness.
- Safe-haven demand boosts dollar amid central bank decisions.
- Expectations lean towards Fed maintaining current interest rate range.
- Market awaits Fed's guidance for future actions.
Gold:
- Gold faces selling pressure on hawkish Fed speculation.
- Better-than-expected US inflation data triggers selloff in gold.
- Gold may consolidate ahead of key events, with investors advised to monitor closely.
Yen:
- Yen hits four-month low as market assimilates BOJ rate hike speculation.
- Japanese yen plunges despite BOJ announcing end of negative interest rate policy.
- Possibility of further BOJ tightening could offer support to yen in the future.
Crude Oil:
- Crude oil surges to multi-month highs amid geopolitical tensions.
- Rising tensions between Ukraine and Russia drive oil prices higher.
- Concerns over supply disruptions intensify as attacks target Russian refineries
For more in-depth market insights, please visit our website (https://puprime.com/market-insights/