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Economic and fundamental developments 07-04-2022 US session

7 Apr 2022 04:42 PM
  • Stock markets are mixed amid the ongoing war in Ukraine. Last night, the Federal Reserve minutes revealed the bank might hike rate by 50 basis points once or twice, in a bid to tackle high inflation. European equities are largely higher, while US stocks are a touch lower.
  • This morning the US dollar index hit a new 23 month high, but it has since retreated from its peak. EUR/USD is up on the day thanks to a broad rebound in the euro.
  • Gold and silver are higher following recent losses, and the recent bearish move in the US dollar has helped the metals too.
  • WTI and brent crude are up over 2% as oil rebounds. The IEA announced it will release 60 million barrels of oil from its strategic reserves but the sell-off in price was short lived.

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