Gold hits $3000 for the first time ever. Backs off. The price is down -6 dollars or -0.20% at $2982.67. The high price today reached $3004.94. Gold is up 2.51% for the week. For the year, will prices are up 13.65%.Silver is trading down $-0.19 or -0.58% at $3.66. For the week, the price is up 3.58%. Silver is up 16.54% this year.Crude oil is trading up $0.62 or 0.93% at $67.17. For the week crude oil is trading up 0.21%. For the year, crude oil is down -6.33%.Bitcoin is trading up $2935 and $84,014. For the week the price is up over 4%
In the forex market, the USD was mixed. The greenback was higher vs.:
JPY +0.54%GBP +0.10%CHF +0.32%EUR -0.29%CAD -0.55%AUD -0.72%NZD -1.00%
In the US debt market, yields moved higher today:
two year yield 4.021%, +6.8 basis points.Five year yield 4.091%, +6.3 basis points10 year yield 4.317%, +4.2 basis points30 year yield 4.627%, +3.2 basis points2 year rose 2.1 basis point5 year rose 0.9 basis points10 year rose 1.1 basis point30 year rose 2.4 basis points.
In the US stock market, the broader indices close sharply higher:
S&P index rose 117.42 points or 2.13% at 5638.94NASDAQ index rose 451.07 points or 2.61% at 17754.09The S&P index fell by -2.27% this week. The prior three weeks have seen declines of -1.66%, -0.90% and -3.10%.The NASDAQ index fell by -2.43% this week. The prior three weeks of seen declines of -2.1% -3.47%, and -2.43%.
Technically, the NASDAQ Index did fall to the 38.2% of the move up from the October 2024 low at 17278 and found support buyers.That hold give traders some hope that a low is in place. It will take a move below the level to disappoint the buyers. Although the price bounced, the index remains well below the 200 day MA at 18417.78.
The rise in the US stocks came despite a sharp fall in the University of Michigan sentiment index and its major components.
Consumer Sentiment Index: Decreased from 64.7 to 57.9, marking an 11% drop and reaching the lowest level since November 2022.
Index of Consumer Expectations: Declined from 58.4 to 53.3, a decrease of 8.7%.
Five-Year Inflation Expectations: Rose from 3.5% to 3.9%, reaching the highest level since early 1993.
This downturn in consumer sentiment reflects growing concerns about economic policies, including tariffs and trade tensions, which are contributing to heightened inflation expectations. The broad-based decline across various demographic groups suggests widespread apprehension about future economic conditions. Elevated inflation expectations present challenges for policymakers, particularly the Federal Reserve, as they balance efforts to manage inflation and support economic growth.
In addition to the US Federal Reserve interest rate decision, the Bank of Japan, the Swiss National Bank, and the Bank of England will all announce interest rate decisions.
Monday, March 17
8:30am USD: Core Retail Sales m/m (Forecast: 0.3%, Previous: -0.4%)8:30am USD: Retail Sales m/m (Forecast: 0.6%, Previous: -0.9%)Tuesday, March 18
8:30am CAD: CPI m/m (Forecast: 0.6%, Previous: 0.1%)8:30am CAD: Median CPI y/y (Forecast: 2.7%, Previous: 2.7%)8:30am CAD: Trimmed CPI y/y (Forecast: 2.8%, Previous: 2.7%)Tentative JPY: BOJ Policy Rate (Forecast: Read More Details
Finally We wish PressBee provided you with enough information of ( Forexlive Americas FX news wrap 14 Mar. Sharply lower Univ. of Michigan ignored. Stocks up )
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