Bitcoin hits yearly highs of $30k on bank crisis and falling dollar

Posted on by Vrasidas Neofytou

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

Bitcoin broke through the $30,000 level for the first time since early-June 2022 as investors increased bets across the cryptocurrency ecosystem on growing fears that the collapse of several U.S. regional banks coupled with rising interest rates and resilient inflation could trigger a potential recession in the United States and abroad this year.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

Bitcoin broke through the $30,000 level for the first time since early-June 2022 as investors increased bets across the cryptocurrency ecosystem on growing fears that the collapse of several U.S. regional banks coupled with rising interest rates and resilient inflation could trigger a potential recession in the United States and abroad this year.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

The price of the largest cryptocurrency by market cap Bitcoin jumped above the key $30,000 psychological level on Tuesday morning after a nearly 10% rally during the weekend, while Ethereum also briefly rose above the $1,900 mark on safety bets following bank closures and a softening dollar.

Bitcoin broke through the $30,000 level for the first time since early-June 2022 as investors increased bets across the cryptocurrency ecosystem on growing fears that the collapse of several U.S. regional banks coupled with rising interest rates and resilient inflation could trigger a potential recession in the United States and abroad this year.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

The price of the largest cryptocurrency by market cap Bitcoin jumped above the key $30,000 psychological level on Tuesday morning after a nearly 10% rally during the weekend, while Ethereum also briefly rose above the $1,900 mark on safety bets following bank closures and a softening dollar.

Bitcoin broke through the $30,000 level for the first time since early-June 2022 as investors increased bets across the cryptocurrency ecosystem on growing fears that the collapse of several U.S. regional banks coupled with rising interest rates and resilient inflation could trigger a potential recession in the United States and abroad this year.

BTC/USD pair, Daily chart

The prospect of an economic recession boosted haven demand for cryptocurrencies, which were on a tear during 2022, as the banking crisis increased expectations that the Fed has limited headroom to keep raising interest rates.

As a result, cryptocurrencies have been rallying since early March’s SVB and Signature Bank collapses amid worries over the health of the U.S. banking system and the risk of deposits, with Bitcoin adding over $10,000 per coin, or 50% on this period, and more than 80% year-to-day, while Ethereum has also added 60% for the year so far.

Adding to the above bullish macro drivers, the softening U.S. dollar also supports dollar-sensitive cryptocurrencies, especially the dollar-denominated pairs of Bitcoin/USD, and Ethereum/USD.

A pause in the Fed’s rate hike cycle bodes well for cryptocurrencies and other non-yielding and dollar-denominated assets such as gold and silver which also rallied to yearly highs in the same period, given that it entails a lower opportunity cost for holding such assets.

The DXY-dollar index retreated further against a basket of currencies this week ahead of the key CPI inflation data due later in the day, which is likely to factor into the Federal Reserve’s plans to raise interest rates on the following FOMC meeting at May 02-03.

U.S. stocks on hold ahead of key CPI inflation data

Posted on by Vrasidas Neofytou

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Nasdaq Composite, Daily chart

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Nasdaq Composite, Daily chart

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Nasdaq Composite, Daily chart

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

While investors are increasing worry about Federal Reserve’s next monetary policy actions and particularly on interest rate hikes, this week’s economic and key inflation data coupled with the Fed’s minutes of its last rate decision on March 22nd will give some signals on Fed’s path ahead.

Nasdaq Composite, Daily chart

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

While investors are increasing worry about Federal Reserve’s next monetary policy actions and particularly on interest rate hikes, this week’s economic and key inflation data coupled with the Fed’s minutes of its last rate decision on March 22nd will give some signals on Fed’s path ahead.

Nasdaq Composite, Daily chart

U.S. stock markets were mostly unchanged Monday, the first trading day after a long weekend due to the Catholic Easter, indicating investors were still weighing and waiting for the coming economic data.

All eyes will be on the U.S. CPI-consumer price index report for March tomorrow Wednesday, which will help determine the Federal Reserve’s rate path ahead, and the release of the minutes from the February FOMC- Federal Open Market Committee meeting on the same day.

Inflation expectations from the Consumer Price Index reading for March are relatively high, with economists predicting that consumer prices rose by 5.2% on an annualized basis and 0.3% month-on-month in March.

Hence, they are expecting core consumer price inflation, which excludes volatile food and energy costs, to rise 0.4% on a month-over-month basis, for an annual increase of 5.6%, up from 5.5% in February.

Adding on the market calculation, we should place also last Friday’s NFP report that showed that nonfarm payrolls increased by 236,000 jobs last month, just shy of the 239,000 called by Wall Street’s forecasters and well above the 200,000 that would have been instrumental in getting the Fed to pause in May.

Therefore, a relatively stronger-than-expected labor NFP report with a persistently strong CPI inflation, combined, is suggesting at the least that the Fed has another 25-basis point hike coming on May 02, which would effectively raise rates to a peak of 5.25%.

Pound Sterling trades near a 10-month high of $1.25

Posted on by Vrasidas Neofytou

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

GBP/USD pair, Daily chart

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

GBP/USD pair, Daily chart

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

GBP/USD pair, Daily chart

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

GBP/USD pair is trading near the $1,2450 mark on the first trade week of April, just below Tuesday’s intraday highs of $1.25 level, since the greenback has been suffering significant losses amid worries over the health of the U.S. banking sector and after disappointing macroeconomic data.

GBP/USD pair, Daily chart

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

GBP/USD pair is trading near the $1,2450 mark on the first trade week of April, just below Tuesday’s intraday highs of $1.25 level, since the greenback has been suffering significant losses amid worries over the health of the U.S. banking sector and after disappointing macroeconomic data.

GBP/USD pair, Daily chart

Pound Sterling has been in an upward trendline against the U.S. dollar since early March following the banking crisis in the United States, after the collapse of the two regional Signature and Silicon Valley banks, at a time British banks were resilient and able to support the local economy.

The pair, which was trading at the lows of $1.18 just before the collapse in early March, has posted a significant rally of 700 pips or 5.5% gains until today, recording its highest level since end-May 2022.

Since the greenback lost its safe-haven demand during the banking crisis and the receding fears over a potential contagion in the rest of U.S. banks, it has created a positive shift toward Pound Sterling, lifting the pair as high as the $1.25 mark, after four straight weeks of gains.

The bullish momentum on the Cable (GBP/USD pair) was also supported by the hawkish comments from Bank of England (BoE) Governor Andrew Bailey, who has suggested that further monetary tightening would be required if signs of persistent inflationary pressure became evident.

 

New Zealand dollar rises intraday after a surprising RBNZ 50 bps rate hike

Posted on by Vrasidas Neofytou

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

New Zealand’s consumer price index in its final quarter of 2022 stood at 7.2%, with market expectations remaining above 7% for most of 2023, forcing the central bank to further hike rates to the highest level since October 2008.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

New Zealand’s consumer price index in its final quarter of 2022 stood at 7.2%, with market expectations remaining above 7% for most of 2023, forcing the central bank to further hike rates to the highest level since October 2008.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

On a surprising move, New Zealand’s central bank raised its benchmark cash rate by 50 basis points to 5.25% on Wednesday, higher than economists’ expectations of a 25-basis points hike, given the fact that inflation is still “too high and persistent”.

New Zealand’s consumer price index in its final quarter of 2022 stood at 7.2%, with market expectations remaining above 7% for most of 2023, forcing the central bank to further hike rates to the highest level since October 2008.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

On a surprising move, New Zealand’s central bank raised its benchmark cash rate by 50 basis points to 5.25% on Wednesday, higher than economists’ expectations of a 25-basis points hike, given the fact that inflation is still “too high and persistent”.

New Zealand’s consumer price index in its final quarter of 2022 stood at 7.2%, with market expectations remaining above 7% for most of 2023, forcing the central bank to further hike rates to the highest level since October 2008.

This follows the previous hike of 50 basis points, which saw the interest rate move from 4.25% to 4.75% in February to bring down inflation levels in the antipodean country.

In its statement, the bank’s monetary policy committee added that employment in New Zealand is also “beyond its maximum sustainable level,” emphasizing its aim to bring inflation down to its target of 1-3%.

It also said that demand continues to significantly outpace the economy’s supply capacity, thereby maintaining pressure on annual inflation, despite the level of economic activity over the December quarter being lower than anticipated.

NZD/USD pair, Daily chart

Following the surprising rate hike announcement on Wednesday, the New Zealand dollar had an intraday rally of 1% to as high as $0.6380 against the U.S. dollar, before retreating below the $0.63 level on the following days on negative market sentiment, and recession fears.

U.S. stocks advance ahead of key NFP-nonfarm payroll report

Posted on by Vrasidas Neofytou

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Despite Thursday’s gains, Nasdaq ended this week down just over 1%, the S&P 500 also inched lower by 0.1% on the week, posting its first losing week in four, while Dow Jones was the only major index that ended with a positive mark of 0.6%, as investors weighed recession fears and lower-than-expected U.S. economic data with expectations for a reverse in Fed’s tightening policy campaign.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Despite Thursday’s gains, Nasdaq ended this week down just over 1%, the S&P 500 also inched lower by 0.1% on the week, posting its first losing week in four, while Dow Jones was the only major index that ended with a positive mark of 0.6%, as investors weighed recession fears and lower-than-expected U.S. economic data with expectations for a reverse in Fed’s tightening policy campaign.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Tech-heavy Nasdaq Composite rose nearly 0.80% to 12,087, and the S&P 500 index soared 0.36%, on Thursday ahead of a three-day weekend due to the Good Friday that will also bring a crucial U.S. jobs report later the day, which will help determine the path ahead for the Federal Reserve.

Despite Thursday’s gains, Nasdaq ended this week down just over 1%, the S&P 500 also inched lower by 0.1% on the week, posting its first losing week in four, while Dow Jones was the only major index that ended with a positive mark of 0.6%, as investors weighed recession fears and lower-than-expected U.S. economic data with expectations for a reverse in Fed’s tightening policy campaign.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Tech-heavy Nasdaq Composite rose nearly 0.80% to 12,087, and the S&P 500 index soared 0.36%, on Thursday ahead of a three-day weekend due to the Good Friday that will also bring a crucial U.S. jobs report later the day, which will help determine the path ahead for the Federal Reserve.

Despite Thursday’s gains, Nasdaq ended this week down just over 1%, the S&P 500 also inched lower by 0.1% on the week, posting its first losing week in four, while Dow Jones was the only major index that ended with a positive mark of 0.6%, as investors weighed recession fears and lower-than-expected U.S. economic data with expectations for a reverse in Fed’s tightening policy campaign.

Based on the above, investors will be closely monitoring March U.S. NFP- nonfarm payroll report due later on the day for further signs on whether Fed’s aggressive rate hike monetary policy has started cooling down the labor market and slowing down the economy.

In February, the Nonfarm payrolls rose by 311,000, well above the market’s expectation. The unemployment rate also increased above expectations to 3.6%, a sign that the U.S. employment market was still hot, despite the Fed’s efforts to slow the economy and bring down inflation.

The labor market data likely keep the Fed on track to raise interest rates when it meets again May 02-03 (50-50 chance of another rate hike of 25 bps) with investors looking for weaker labor force readings in the hope that it could push the Fed to change course on its interest rate hiking campaign to curb inflation.

Adding to the above, St. Louis Federal Reserve President James Bullard said yesterday he doesn’t see inflationary pressures going away soon, and it’s going to be difficult for Fed to get inflation back down to its 2% target soon.

Gold jumps above $2,025/oz on safety bets and a weaker dollar

Posted on by Vrasidas Neofytou

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

The yellow metal rallied as high as $2,025/oz this morning, hitting a fresh 13-month high and may test its record price of $2,070/oz soon, while the white metal Silver also jumped above the $25/oz key resistance level, moving toward March 2022 highs of $27/oz.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

The yellow metal rallied as high as $2,025/oz this morning, hitting a fresh 13-month high and may test its record price of $2,070/oz soon, while the white metal Silver also jumped above the $25/oz key resistance level, moving toward March 2022 highs of $27/oz.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Gold is shining again, with the price breaking well above the $2,000 key psychological level and rallying toward the all-time high price of $2,070 hit in early March 2020, a few days after the start of the Russian invasion of Ukraine.

The yellow metal rallied as high as $2,025/oz this morning, hitting a fresh 13-month high and may test its record price of $2,070/oz soon, while the white metal Silver also jumped above the $25/oz key resistance level, moving toward March 2022 highs of $27/oz.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

Gold is shining again, with the price breaking well above the $2,000 key psychological level and rallying toward the all-time high price of $2,070 hit in early March 2020, a few days after the start of the Russian invasion of Ukraine.

The yellow metal rallied as high as $2,025/oz this morning, hitting a fresh 13-month high and may test its record price of $2,070/oz soon, while the white metal Silver also jumped above the $25/oz key resistance level, moving toward March 2022 highs of $27/oz.

Gold, Daily chart

The precious metal market is outperforming the rest of the market, boosted by several important catalysts that are pushing gold and silver prices much higher, including the recent banking crisis, the softening dollar, the safety bets, and the falling bond yields.

Since the banking crisis erupted in the United States in early March, with the closure of two small U.S. banks – Silicon Valley Bank and Signature Bank- and several problems with other regional banks, the dollar has been trading in a downward momentum, amid the growing concerns of the health of the U.S. banking sector, favoring safe-havens gold and silver.

Investors are selling a dollar for gold on speculation that the recent bank crisis could force Federal Reserve to end its aggressive monetary tightening in the U.S. and stop hiking or start reducing rates later in the year, weakening further greenback and bond yields, and boosting precious metals.

As a result, gold has gained almost $225/oz or over 12% since early March until today so far, bouncing from the yearly lows of $1,800/oz to the current levels of $2,025/oz, while Silver also gained $5/oz, or up 25%, rebounding sharply from the lows of $20/oz to as high as $25/oz this morning.

A weaker greenback, which hit a two-month low of 101.50, is beneficial for the dollar-denominated precious metals, making them less expensive for buyers with foreign currency, while the falling bond yields are making non-yielding gold and silver more attractive for hedging against turbulence times.

Gold is also trading at or near all-time highs in several currencies right now, including the British pound, Japanese yen, Indian rupee, and Australian dollar, and it would likely be hitting new highs in USD terms as well were the dollar to be devalued.

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