Macro data boosted, with the US dollar slightly rising on Tuesday Gold's rise is hindered by the $2,000 mark

27 Mar, 2024

On Tuesday (March 26th), due to a higher than expected increase in durable goods orders in the United States in February, and the optimistic outlook for economic growth in the first quarter of the Uni

On Tuesday (March 26th), due to a higher than expected increase in durable goods orders in the United States in February, and the optimistic outlook for economic growth in the first quarter of the United States, the US dollar index fell first and then rose. At one point in the day, it hit the 104 mark and then rebounded during the US session, ultimately closing up 0.07% at 104.29. The benchmark 10-year US Treasury yield remained above the 4.2% mark, closing at 4.237%, while the 2-year US Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.593%.

Gold prices rose slightly on Tuesday (March 26), briefly approaching the $2,000 mark during trading due to increased expectations of the Federal Reserve's interest rate cut. However, with US durable goods orders data stronger than expected, the US dollar index reversed its decline to an increase, and gold prices narrowed to 0.3%, closing at $2178.49 per ounce.

Due to the unexpected increase in API crude oil inventories and a slight decline in oil prices, WTI crude oil briefly stood at $82 on Tuesday (March 26), but plummeted significantly during the US session, ultimately closing down 0.84% at $81.22 per barrel; Brent crude oil closed 0.9% lower at $85.24 per barrel.

x

WARNING and please be advised:

It has come to our attention that a number of unauthorised firms /individuals have cloned our website content, logo and social media pages of CWG Markets Limited. Please be advised that these unauthorised firms have also been contacting consumers via various messaging apps such as WhatsApp, Facebook, Wechat.It should be noted that there is no connection whatsoever between the CWG Markets Limited, an authorised firm, and the unauthorised entities/ individuals that have cloned our details. If you’ve been scammed or contacted by an unauthorised firm / individuals – or a firm you suspect is not legitimate – you can report to us [email protected]

CFDs (Contract For Difference) are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks and take appropriate care to manage your own risk. Please read our Risk Disclosure carefully.