• Latest
  • Trending
  • All
Investors spooked by strong US data

Investors spooked by strong US data

December 23, 2022 11:55
Dollar lacks upside momentum due to lower Treasury yields

USD rally pauses, gold remains steady

December 7, 2023 07:00
Investor sentiment improves further

Investor sentiment improves further

December 6, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
Stocks mixed while gold at fresh all-time highs to start the week

Stocks mixed while gold at fresh all-time highs to start the week

December 4, 2023 08:00
Stocks mixed, dollar indecisive to start the new month

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

USD keeps refreshing August lows

November 30, 2023 07:00
Global stocks mixed with Fed and China in focus

Global stocks mixed with Fed and China in focus

November 29, 2023 08:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar needs fresh impetus

November 28, 2023 07:00
Risk demand keeps waning in muted trading

Risk demand keeps waning in muted trading

November 27, 2023 08:00
Markets mixed in subdued holiday trading

Markets mixed in subdued holiday trading

November 24, 2023 09:01
Dollar lacks upside momentum due to lower Treasury yields

Greenback struggles to retain demand

November 23, 2023 07:00
Dollar lacks upside momentum due to lower Treasury yields

Dollar attracts some demand

November 22, 2023 07:00
  • Terms & Сonditions
  • Contact
Thursday, December 7, 2023
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment improves further

    Investor sentiment improves further

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Investor sentiment improves further

    Investor sentiment improves further

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed while gold at fresh all-time highs to start the week

    Stocks mixed, dollar indecisive to start the new month

    Stocks mixed, dollar indecisive to start the new month

    Global stocks mixed with Fed and China in focus

    Global stocks mixed with Fed and China in focus

    Risk demand keeps waning in muted trading

    Risk demand keeps waning in muted trading

    Markets mixed in subdued holiday trading

    Markets mixed in subdued holiday trading

    Markets await Fed Minutes

    Markets await Fed Minutes

    Risk rally wanes ahead of the weekend

    Risk rally wanes ahead of the weekend

    Markets cautiously await US inflation data

    Markets cautiously await US inflation data

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Investors spooked by strong US data

Investors spooked by strong US data

by Stephen Soo
December 23, 2022 11:55
in Fundamental analysis
0
Investors spooked by strong US data

Markets remain concerned that further monetary tightening from the Fed will push the economy into a recession

US stock markets finished lower overnight to come back under pressure following a short-lived rally seen earlier in the week. The Dow Jones fell 1.05%, the S&P 500 declined 1.45%, while the Nasdaq Composite was 2.18%. Tech shares were among the loss leaders as investors remained concerned that further monetary tightening from the Fed will push the economy into a recession. So far this month, the Dow is down 4.5%, while the S&P 500 and Nasdaq have lost 6.3% and 8.7%, respectively.

Following suit, Asian equities fell on Friday as strong US data revived fears the Fed will have to retain its hawkish stance to combat inflation. Following two-day winning streak, MSCI’s broadest index of Asia-Pacific shares outside Japan slid nearly 0.7%. Adding to a more downbeat tone in the region, China faces a surge in infections after Beijing abandoned its strict zero-COVID policy to contain the virus. On the data front, Japan’s core consumer inflation in November hit a fresh 40-year high of 3.7%.

Meanwhile, gold prices rallied earlier in the week to stop just a tad below late-June highs registered last week around $1,825. The bullion failed to challenge the barrier and saw some profit-taking instead to settle below the $1,800 psychological level ahead of the weekend. During the recent retreat, the XAUUSD pair found support around $1,785 where the 20- and 200-DMAs converge. Gold tries to regain the upside bias ahead of the weekend, but investors look indecisive at this stage.

In currencies, the USD index is back on the defensive after some gains seen yesterday in response to fresh economic data out of the United States. The country’s GDP rebounded faster in the third quarter, rising 3.2% against the previously estimated 2.9%. A separate report showed that new claims for unemployment benefits increased less than expected last week. Upbeat figures potentially set the Federal Reserve on a path to keep raising interest rates, thus supporting the buck. The DXY briefly advanced to 104.60 before retreating marginally on Friday.

Tags: Covid-19Federal ReserveGDPNasdaqS&P 500XAUUSD
Share6Tweet4
ADVERTISEMENT
Stephen Soo

Stephen Soo

Stephen's specialty is fundamental analysis. He graduated from the Booth School of Business, the University of Chicago. Stephen currently cooperates with several news agencies, and on FWNews he publishes macroeconomic news and reviews on brokerage companies.

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD rally pauses, gold remains steady

December 7, 2023 07:00
10
Investor sentiment improves further
Fundamental analysis

Investor sentiment improves further

December 6, 2023 08:00
10
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Dollar stays afloat as gold rally pauses

December 5, 2023 07:00
11
Stocks mixed while gold at fresh all-time highs to start the week
Fundamental analysis

Stocks mixed while gold at fresh all-time highs to start the week

December 4, 2023 08:00
12
Stocks mixed, dollar indecisive to start the new month
Fundamental analysis

Stocks mixed, dollar indecisive to start the new month

December 1, 2023 08:00
13
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD keeps refreshing August lows

November 30, 2023 07:00
13

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

New exhibition, Luck and Lore, opens at the Bank of Canada Museum

October 24, 2019 17:22
14
Pound corrects higher due to dollar weakness

Euro keeps bleeding across the board, dollar at two-month highs

February 2, 2021 06:26
15
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
124
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Pound corrects higher due to dollar weakness
Technical analysis

Euro regains a bullish tone despite downbeat risk sentiment

December 8, 2020 08:03
81
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews