Gold prices fell after the hawkish Fed announcement

Commodities market

Oil prices fell on Thursday after rising more than $1 in the previous session, as concerns about supply disruptions subsided and markets sought signs of improved fuel demand.

By 0642 GMT, Brent crude futures had fallen 7 cents, or 0.1%, to $97.33 per barrel, while West Texas Intermediate crude futures had fallen 9 cents, or 0.1%, to $91.85.

Key tickers:

Brent: 97.03 — buy.

WTI: 91.72 — strong buy.

NG: 8.257 — neutral.

Foreign exchange market

Asian currencies fell on Thursday as Federal Reserve officials pledged to keep raising interest rates despite slowing inflation, while Singapore's growth outlook deteriorated.

The Chinese yuan fell almost 0.3%, while the Japanese yen declined 0.2%. After posting some gains on Wednesday, most other Asian currencies traded in the red.

The US dollar index was up 0.2% as of 2321 ET (0321 GMT) after falling 1.1% on Wednesday.

Key tickers:

EUR/CHF: 0.9711 — buy.

EUR/USD: 1.0326 — strong buy.

USD/JPY: 132.53 — strong sell.

USD/CAD: 1.2768 — strong sell.

GBP/USD: 1.2221 — strong buy.

Metals

Gold prices fell on Thursday as soft inflation data eased fears of a US recession, while copper prices remained at five-week highs as the dollar fell.

Spot gold was down 0.1% to $1,789.91 at 0113 GMT, while gold futures were down 0.5% to $1,805.45.

Key tickers:

XAU/USD: 1787.03 — buy.

XAG/USD: 20.494 — strong sell.

XPT/USD: 957.69 — strong buy.

XPD/USD: 2251.75 — strong buy.

Crypto market

Bitcoin price formed a strong base above USD 22,650 yesterday and rallied on US inflation news. BTC is now trading near the USD 24,400 level (03:59 UTC), up more than 6% daily and nearly 7% weekly.

Similarly, most major altcoins are looking for more gains. ETH gained more than 12% and surpassed the USD 1,880 resistance level.

Key tickers:

BTC: $24,480.8 — strong buy.

ETH: $1,880.86 — strong sell.

Neo: $12.1100 — strong sell.

Zcash: $80.40 — strong sell.

Stock market

European stock markets are expected to open higher on Thursday, boosted by solid gains on Wall Street overnight as lower-than-expected US inflation eased pressure on the Federal Reserve to tighten monetary policy aggressively.

At 0600 GMT, the DAX futures contract in Germany was 0.3% higher, the CAC 40 futures contract in France was 0.3% higher, and the FTSE 100 futures contract in the United Kingdom was 0.2% higher.

Key tickers:

  • indexes

S&P 500: 4,210.24 — sell.

Nasdaq 100 (NDX): 13,378.32 — strong buy.

Dow Jones Futures: 33,342.00 — strong buy.

DAX: 13,701.21 — strong buy.

  • Shares

Mercedes Benz Group AG (Daimler) #MBGn: 164.85 — sell.

Apple #APPLE: 169.24 — strong buy.

Amazon #AMAZON: 142.69 — strong buy.

Tesla #TESLA: 883.07 — strong buy.

Meta Platforms Inc #FACEBOOK: 178.34 — strong buy.

Author: GC
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