Market expects US inflation to drop further
Later today, the US inflation data for February will be released, with Mitrade anticipating the annual reading to slow from 6.4% to 6.0%. With the SVB collapse in mind, the projection for next week’s Fed interest rate decision is swaying towards a more moderate target.
USD/CAD then fell 41 pips to 1.3724, and USD/JPY plunged 180 pips to 133.18. GBP/USD surged 153 pips to 1.2181. EUR/USD climbed 86 pips to 1.0729, and AUD/USD increased 23 pips to 0.6664.
As the market favors traditional safe-haven assets, spot gold gained $46.3 to $1,913.54 an ounce. WTI oil futures dropped $1.88 to $74.80 a barrel. Bitcoin and Ethereum continue to climb to $24,344.0 and $1,671.19 respectively.
The Nasdaq 100 rose 92 points (+0.79%) to 11,923. The Dow Jones Industrial Average declined 90 points (-0.28%) to 31,819, and the S&P 500 slid 5 points (-0.15%) to 3,855.
USD/CAD then fell 41 pips to 1.3724, and USD/JPY plunged 180 pips to 133.18. GBP/USD surged 153 pips to 1.2181. EUR/USD climbed 86 pips to 1.0729, and AUD/USD increased 23 pips to 0.6664.
As the market favors traditional safe-haven assets, spot gold gained $46.3 to $1,913.54 an ounce. WTI oil futures dropped $1.88 to $74.80 a barrel. Bitcoin and Ethereum continue to climb to $24,344.0 and $1,671.19 respectively.
The Nasdaq 100 rose 92 points (+0.79%) to 11,923. The Dow Jones Industrial Average declined 90 points (-0.28%) to 31,819, and the S&P 500 slid 5 points (-0.15%) to 3,855.