Abstract:Navigating Uncertainty: Insights for Traders & Investors
Market Wrap: Stocks, Bonds, Commodities (March 20, 2024)Stocks
US stocks closed higher ahead of the Federal Reserve's interest rate decision.
S&P 500 hits a new record close (+0.56%)
Dow Jones Industrial Average also gains (+0.83%)
Tech stocks (Nvidia, Apple, Microsoft, Amazon) post gains
Nordstrom surges on potential privatization news.
Microstrategy falls further as it acquires more Bitcoin.
Bonds
US 10-year Treasury yield falls 4.5 basis points.
Commodities
WTI crude oil closes at a four-month high (+0.87%).
Gold prices slightly decline.
Forex
US dollar remains strong, Dollar Index climbs.
USD/JPY surges after the Bank of Japan ends negative interest rate policy.
AUD/USD, EUR/USD, and GBP/USD all see declines.
Canadian dollar weakens after inflation data.
Bitcoin suffers a heavy sell-off, dropping over 7%.
Trading Analysis
GBP/USD: Bullish above 1.2700. Targets: 1.2735, 1.2745
USD/JPY: Upward trend continues. Targets: 151.90, 152.20
EUR/USD: Bullish above 1.0850. Targets: 1.0875, 1.0890
Dow Jones (CME): Trending towards 39670.00. Targets: 39670.00, 39770.00
______________________________________________________________________________Important Note: Market volatility can invalidate these targets.Explore More: For detailed analysis, visit https://www.tradetaurex.com/Disclaimer: This information is for reference only and does not constitute investment advice. Investments carry risks; proceed with caution.
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S&P 500 Forecast: Fresh All-Time High May Set Narrative for Q2 Trading
After revamping the way it interprets market sentiment, Goldman Sachs says stocks will slip, and are vulnerable if the economy doesn't improve.
A $60 billion investing firm says profit advantages that have helped build US corporations into giants are fading, limiting the stocks' potential.
With US GDP data on deck for Friday's trading session, forex market participants will likely scrutinize the report for insight into the Fed's upcoming policy decision and its impact on the US Dollar.