13 March 2024
Market participants responded to the higher-than-expected US Inflation report, also supported by bullish speculation in the Technology sector. The US Labor Department reported that US CPI (Feb) rose 0.4% on a monthly basis after rising 0.3% in January, or equivalent to 3.2% yoy, slightly warming up from 3.1% in Jan.
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8 March 2024
The government bond yields fell after the European Central Bank held interest rates in place, and Federal Reserve Chairman Jerome Powell reiterated that a rate cut this year is possible if inflation is safely contained.
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7 March 2024
Statements from Federal Reserve Chairman Jerome Powell supported expectations that the US central bank will realize an interest rate cut this year. Powell made it clear that a pivot plan is on the horizon and that the US economy appears to be far from recession, although he did not provide a specific timeline for when interest rates could begin to be lowered as inflation remains volatile.
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6 March 2024
A number of economic indicators published on Tuesday showed that the US services industry slowed in February as the labor market in the sector fell, but new orders in the services sector rose to a 6-month high, indicating strength in the sector.
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5 March 2024
Investors nervously awaited the release of a number of economic data and Federal Reserve Chairman Jerome Powell's testimony. Market participants await a series of indicators that will shed light on the health of the US economy in terms of Services sector PMI and Factory Orders (Jan) on Tuesday, as well as Non-farm Payrolls on Friday. Also this week, investors await key comments from Fed Chairman Jerome Powell who is scheduled to speak on Wednesday and Thursday.
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