Fed Chair speech slows the greenback
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Federal Reserve Chairman Jerome Powell has indicated that US inflation has been slowing. However, he maintained rate hikes are still needed to bring price levels down further, without any hints at bigger or smaller increases. The mixed bag of information has slowed the US dollar, with EUR/USD trading slightly lower at 1.0723, and GBP/USD moving up 21 pips to 1.2042.
The Reserve Bank of Australia has raised rates by 25 basis points to 3.35%, meeting Mitrade's expectations, as AUD/USD climbed 77 pips to 0.6958. USD/CAD declined 48 pips to 1.3498, and USD/JPY dropped over 150 pips to 131.05.
Spot gold rose more than $6 to $1,873.81 an ounce. WTI oil futures added $3.03 to $77.14 a barrel. Bitcoin recovered above the $23,000 level, currently trading at $23,298. Ethereum increased by $57 to $1,681.97.
A recent showdown between ChatGPT and Google’s Bard fuelled the Nasdaq 100 to surge 263 points (+2.12%) to 12,728. The S&P 500 was 52 points higher (+1.29%) at 4,164, and the Dow Jones Industrial Average rallied 265 points (+0.78%) to 34,156.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
USD/JPY 🔽
XAU 🔼
WTI 🔼
BTC 🔼
ETH 🔼
Federal Reserve Chairman Jerome Powell has indicated that US inflation has been slowing. However, he maintained rate hikes are still needed to bring price levels down further, without any hints at bigger or smaller increases. The mixed bag of information has slowed the US dollar, with EUR/USD trading slightly lower at 1.0723, and GBP/USD moving up 21 pips to 1.2042.
The Reserve Bank of Australia has raised rates by 25 basis points to 3.35%, meeting Mitrade's expectations, as AUD/USD climbed 77 pips to 0.6958. USD/CAD declined 48 pips to 1.3498, and USD/JPY dropped over 150 pips to 131.05.
Spot gold rose more than $6 to $1,873.81 an ounce. WTI oil futures added $3.03 to $77.14 a barrel. Bitcoin recovered above the $23,000 level, currently trading at $23,298. Ethereum increased by $57 to $1,681.97.
A recent showdown between ChatGPT and Google’s Bard fuelled the Nasdaq 100 to surge 263 points (+2.12%) to 12,728. The S&P 500 was 52 points higher (+1.29%) at 4,164, and the Dow Jones Industrial Average rallied 265 points (+0.78%) to 34,156.