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Weekly Market Recap (01-05 April)

Weekly Market Recap (01-05 April)
forexlive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexlive.com Daily Mail and Mail on Sunday newspapers.

Canada , Switzerland , Syria , Iran , China , United-states , Michigan , Israel , United-kingdom , Japan , New-zealand , Iranian

China Market Update: NVIDIA's Rapid Rise Fueled By Chip Giants TSMC And SK Hynix

Asian equities were mixed overnight as South Korea and Japan underperformed following Minneapolis Fed President Neel Kashkari stating that there might not be interest rate cuts in 2024 if inflation remains “sideways”. The sideways comments led investors to ease their pain with some red wine, but not Merlot!

Saudi-arabia , Taiwan , Pakistan , Guangzhou , Guangdong , China , Shanghai , South-korea , Hong-kong , Lifeng , Japan , Xiaomi

Dollar eases off highs, Aussie rallies, Yen weakens

The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of six major currencies, eased off recent highs at 104.80, closing lower, at 104.45 in New York.

Australia , United-states , Japan , Germany , Stanford , Leicestershire , United-kingdom , Canada , New-york , Singapore , China , Italy

Dollar Sees Mild Retreat Ahead of ISM Services, Gold Extends Record Run

Dollar retreated mildly following comments from two FOMC members, including a known hawkish figure, reiterating expectations for three interest rate cuts within the year. Despite this, the retreat remains subdued as there is no guarantee yet for a June cut. Fed's approach continues to be heavily influenced by incoming data. The greenback's next move will hinge on today's ISM Services data, as well as Friday's Non-Farm Payrolls.

Japan , Hong-kong , Australia , Italy , New-zealand , Shanghai , China , San-francisco , California , United-states , Switzerland , Canada

All Eyes on Euro Area Inflation - Action Forex

In the euro area, today's focus is on euro area inflation for March. We expect inflation to come in at around 2.4% y/y which is slightly below the consensus forecast of 2.5% due to the recent downside surprises in the four biggest economies. Inflation is likely to decline due to falling food inflation and core goods.

Germany , China , Russia , Taiwan , Ukraine , German , Ukrainian , Chinese , Russian , Taiwan-semiconductor-manufacturing-co , Reuters

Futures Drop As Rates Continue Rising With Brent Back To $90

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Taiwan , Philippine , Benguet , Philippines , Mexico , Gaza , Israel-general- , Israel , Guangdong , Jilin , China , Hong-kong

Markets Unmoved by Eurozone CPI and US ADP Reports, Await Further Cues

The forex markets showed rather muted response to the latest batch of economic data released today. Euro has continued its near-term recovery, unaffected by Eurozone's lower than expected CPI flash data coming. This lack of response likely stems from the understanding that a slight miss in CPI figures does not significantly alter ECB plans for a rate cut in June, supported by a growing consensus within the bank. Notably, even the more conservative members of ECB Governing Council have signaled openness to adjusting rates in June, further cementing expectations.

Italy , Australia , New-zealand , United-kingdom , Japan , Shanghai , China , Switzerland , Germany , Canada , Hong-kong , Japanese