Growing Fed hike expectations strengthen the greenback
Although many major central banks have stopped raising interest rates in 2023, the US Federal Reserve is determined to keep increasing rates until meeting the inflation target of 2.0%. Recent hawkish comments from Fed officials and resilient retail sales data have increased the chances for more rate hikes in the incoming months.
The US dollar strengthened against its peers. USD/CAD rose 31 pips to 1.3361, and USD/JPY jumped 121 pips to 133.77. EUR/USD declined 44 pips to 1.1000, and GBP/USD plunged 107 pips to 1.2413. AUD/USD fell 73 pips to 0.6708.
Spot gold dropped 36 to
2
,004.26 an ounce, and WTI oil futures edged up $0.27 to $82.43 a barrel. Bitcoin and Ethereum slipped to
29
,937.0 and
2
,090.69 respectively.
The S&P 500 slipped 8 points to 4,137, while the Nasdaq 100 fell 29 points to 13,079. The Dow Jones Industrial Average decreased 143 points to 33,886.
The US dollar strengthened against its peers. USD/CAD rose 31 pips to 1.3361, and USD/JPY jumped 121 pips to 133.77. EUR/USD declined 44 pips to 1.1000, and GBP/USD plunged 107 pips to 1.2413. AUD/USD fell 73 pips to 0.6708.
Spot gold dropped 36 to
2
,004.26 an ounce, and WTI oil futures edged up $0.27 to $82.43 a barrel. Bitcoin and Ethereum slipped to
29
,937.0 and
2
,090.69 respectively. The S&P 500 slipped 8 points to 4,137, while the Nasdaq 100 fell 29 points to 13,079. The Dow Jones Industrial Average decreased 143 points to 33,886.