The expectation of the Federal Reserve's interest rate cut has changed again, leading to a surge in non farm employment growth in March Israel's withdrawal triggers a pullback in gold prices, focusing on the three major bearish impacts

08 Apr, 2024

Last Friday (April 5th), the US dollar index experienced a short-term surge due to unexpected non farm payroll data that suppressed market expectations for the Federal Reserve's interest rate cut.

Last Friday (April 5th), the US dollar index experienced a short-term surge due to unexpected non farm payroll data that suppressed market expectations for the Federal Reserve's interest rate cut. However, after the US stock market opened, the index quickly recouped its gains and ultimately closed up 0.062% at 104.29. The collective rebound in US bond yields. The 10-year US Treasury yield returned to the 4.4% mark and ultimately closed at 4.406%, while the 2-year US Treasury yield, which is most sensitive to the Federal Reserve's policy rate, closed at 4.759%.

 

Spot gold experienced a short-term decline after the release of non-agricultural data last Friday (April 5th), but subsequently hit a record high, reaching $2330 during the day and closing up 1.7% at $2329.83 per ounce, with three consecutive weekly bullish days; Spot silver rose 2.13% to $27.48 per ounce, reaching a new high since June 2021.

 

Supported by geopolitical tensions in Europe and the Middle East, concerns about supply tightening, and signs of improving global fuel demand prospects, crude oil has remained near its highest level since October last year and has risen for the fourth consecutive week. WTI crude oil briefly reached the 87 level last Friday (April 5th), but later fell slightly and ultimately closed down 0.09% at $86.67 per barrel; Brent crude oil closed 0.2% lower at $90.87 per barrel last Friday (April 5th).

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