The market remains wait-and-see, with the US dollar slightly rising yesterday Gold prices fluctuate, waiting for US inflation data and speeches from Federal Reserve officials

28 Feb, 2024

The market remains wait-and-see, with the US dollar slightly rising yesterday Gold prices fluctuate, waiting for US inflation data and speeches from Federal Reserve officials

On Tuesday (February 27th), as investors waited for more US economic data to be released, the US dollar index fluctuated and consolidated, ultimately closing up 0.037% at 103.81. The benchmark 10-year US Treasury yield fluctuated and fell in the Asian session, rebounding in the European session and ultimately closing at 4.308%. The yield on the 2-year US Treasury, which is most sensitive to the Federal Reserve's policy rate, closed at 4.701%.

Gold prices remained stable on Tuesday (February 27th), despite poor performance in US durable goods orders in January. However, the increase in gold prices was limited as some short-term bulls took profits. This week, investors will focus on key inflation data and comments from Federal Reserve officials.

Oil prices rose by more than $1 on Tuesday (February 27th), reaching a new high of over a week, as there were reports that OPEC+is considering extending its voluntary oil production reduction action until the second quarter to provide more support.

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