Market expectations for Fed rate cuts cooling down The US dollar rose on Monday, while gold prices closed higher after two consecutive declines

19 Mar, 2024

Market expectations for Fed rate cuts cooling down The US dollar rose on Monday, while gold prices closed higher after two consecutive declines

On Monday (March 18th), as a result of the previously released US economic data, the market's bet on the possibility of the Federal Reserve cutting interest rates in June decreased. The US dollar index opened lower and rose higher, ultimately closing 0.13% higher at 103.58. The benchmark 10-year Treasury yield closed at 4.3250%, while the 2-year Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.7360%.

Due to the tense geopolitical situation and the continuous buying of gold by central banks around the world, spot gold rebounded on Monday (March 18) and briefly reached the 2160 mark during trading, ultimately closing up 0.19% at $2159.80 per ounce; Spot silver ultimately closed down 0.57% at $25.03 per ounce.

Due to Ukraine's ongoing attacks on Russian energy facilities, WTI crude oil and Brent crude oil have reached new highs since late October last year. WTI crude oil closed up 1.45% at $82.14 per barrel on Monday (March 18); Brent crude oil closed up 1.84% on Monday (March 18th) at $86.83 per barrel.

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