Market Focus on US Inflation Trends The US dollar slightly rose on Thursday, while gold hit a historic high again

12 Apr, 2024

On Thursday (April 11th), influenced by PPI data, the US dollar index took back its intraday gains and rose again during Lagarde's speech, reaching a 5-month high.

On Thursday (April 11th), influenced by PPI data, the US dollar index took back its intraday gains and rose again during Lagarde's speech, reaching a 5-month high. However, it later fell slightly and eventually closed up 0.085% at 105.28. US bond yields remain high and volatile. The 10-year US Treasury yield briefly approached the 5% mark and ultimately closed at 4.575%. The yield on the 2-year US Treasury, which is most sensitive to the Federal Reserve's policy interest rates, closed at 4.955%.

 

Gold prices rose nearly $40 on Thursday (April 11th), reaching a peak of $2377.60 per ounce and closing at $2372.26 per ounce. Earlier, US producer price data was lower than expected, and the number of people continuing to apply for unemployment benefits rose to the highest since January, boosting hopes of a US interest rate cut this year. US officials said they expected Iran to attack Israel, and continued geopolitical concerns increased the attractiveness of gold.

 

Due to the temporary easing of market concerns about Iran or its agents launching an attack on Israel, international crude oil has experienced a pullback. WTI crude oil closed down 0.84% at $85.48 per barrel on Thursday (April 11th); Brent crude oil closed down 0.51% at $90.14 per barrel on Thursday (April 11th).

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