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The U.S. dollar jumped as the sticky CPI inflation lowered rate cut hopes

The U.S. dollar climbed to 5-month highs against major peers and the major stock indices plunged as the hotter-than-expected U.S. CPI inflation numbers pushed futures market traders to extend out expectations for the central bank’s first rate cut to September from June.

The U.S. dollar advanced as Fed rate cut bets decreased

The greenback rose across the board as the latest U.S. economic and inflation data, combined with the stronger-than-expected NFP jobs data for March, pushed back expectations that the Federal Reserve will cut interest rates as soon as June.

Gold hit a fresh record high of $2,288/oz amid increased safe haven demand

Gold shines again, as the price of the yellow metal recorded another record-high of $2,288/oz on Wednesday morning, driven by the increased haven demand after an escalation in the Middle East tension, coupled with the uncertainty over U.S. interest rates.

Brent oil flirts with $90 on Middle East risk and supply concerns

Both Brent and WTI crude oil prices rose as high as $89.50/b and $85/b respectively on Tuesday morning, nearing 6-month highs, driven by the escalating tension in the Middle East, the tighter oil supplies from OPEC+ and Mexico, the Russian refinery outages, and the resilient petroleum demand, especially from China, Europe, and the U.S.

Gold hit a fresh record-high of $2,141 on Fed rate cut bets

Gold shines again, as it hit a fresh record-high of $2,141/oz on Tuesday morning on growing bets that the Federal Reserve will start cutting interest rates this year (June), together with the softer dollar and bond yields, and on safe-haven demand due to the geopolitical risks

Brent oil rose over $84 as OPEC+ extended voluntary supply cuts

Brent and WTI crude oil prices hit a fresh yearly high of nearly $84.70/b and $80.50/b respectively on Monday morning after the OPEC+ group extended its voluntary oil supply cutbacks to the middle of the year in a bid to avert a global surplus and support higher crude oil prices.