Dollar Strengthens as Investors Turn Hawkish on Rates and Await Inflation Data

Key Takeaways:

  • πŸ’° Dollar gains on euro with Fed’s Waller hawkish on rates
  • πŸ’Έ Subscribe to The Economic Times Prime for ePaper Online and Sensex Today
  • πŸ“Š Top Trending Stocks: SBI, Axis Bank, HDFC Bank, Infosys, Wipro, NTPC
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  • πŸ‡ΊπŸ‡Έ The U.S. economy grew faster than previously estimated in the fourth quarter fueled by robust consumer spending and business investment
  • πŸ” Market participants are closely watching for potential intervention in the currency markets, particularly concerning the Japanese yen
  • πŸ’΅ The dollar gained against the euro before key U.S. inflation data and as investors prepared for month- and quarter-end.
  • πŸ“ˆ Japan’s currency was weaker at 151.38 per dollar, with officials hinting at potential intervention to prevent further declines.
  • πŸ‡ΊπŸ‡Έ U.S. economic focus this week is on Personal Consumption Expenditures (PCE) data to determine the Federal Reserve’s rate-cutting plans.
  • πŸ“Š U.S. economic growth in the fourth quarter was higher than previously estimated, driven by strong consumer spending and business investment.
  • ⏰ Foreign exchange markets are likely to be lightly staffed due to the Good Friday holiday, increasing volatility.

Market Insights:

Amidst recent developments in the global financial markets, the dollar has been making gains against the euro as the Federal Reserve’s Waller takes a hawkish stance on rates. At the same time, investors are keeping a close eye on top trending stocks such as SBI, Axis Bank, HDFC Bank, Infosys, Wipro, and NTPC for potential investment opportunities.

Additionally, there is a growing interest in hybrid funds with good returns, as well as large cap funds that offer stability and growth potential. For those looking to start investing, SIPs starting at Rs. 500 provide an accessible entry point into the market.

In the currency markets, there is anticipation of potential intervention by Japanese authorities to prevent further declines in the yen against the dollar. This comes as the U.S. economy demonstrates strong growth in the fourth quarter, driven by consumer spending and business investment.

As market participants navigate through these developments, it is important to stay informed about the latest trends and news in order to make well-informed investment decisions.

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