Market digestion of US CPI data, US dollar fell yesterday Gold price rose up and waiting for the data release

14 Mar, 2024

Market digestion of US CPI data, US dollar fell yesterday Gold price rose up and waiting for the data release

On Wednesday (March 13th), the US dollar index rose and fell to the 103 levels in the European market and ultimately closing down 0.119% at 102.81. The yield of US treasury bond bonds rebounded, with the benchmark 10-year US bond yield closing at 4.1879% and the two-year US bond, which is most sensitive to the policy interest rate of the Federal Reserve, closing at 4.6324%.

Gold prices rose 0.75% on Wednesday (March 13) to close at $2174.15 per ounce, boosted by the weakening US dollar as investors still hold hope for the Federal Reserve's June rate cut despite hot US inflation data, and the escalating geopolitical tensions have kept gold's safe haven demand unchanged.

Oil prices surged nearly 3% on Wednesday (March 13th), closing at a four month high due to an unexpected decrease in US crude oil inventories, a larger than expected decline in US gasoline inventories, and potential supply disruptions after Ukraine's attack on Russian refineries.

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