Forecasts & Analysis

It was a bullish morning for the Asian markets. Easing fears of a global banking crisis and market bets of a less hawkish Fed delivered support.

It is a quiet day for the USD/JPY. Easing bets of a 50-basis point Fed rate hike and receding SVM contagion risk are negative forces for the dollar.

It was a bullish Thursday, with XRP tracking the broader crypto market into positive territory. Easing SVB contagion fears should support further gains.

Following a bullish Thursday session, BTC was in the red this morning. However, easing Fed Fear and receding bank contagion risk should deliver further support.

It was a quiet morning for the AUD/USD and NZD/USD. Easing bets of a 50-basis point Fed rate hike and receding bank contagion are bullish signals.

On Tuesday of next week, the Federal Reserve will hold its second Open Market Committee meeting of the year.

US natural gas futures rose, but gains were limited as utilities used less gas from storage for heating after forecasts of less cold weather.

The US Dollar Index fell on Thursday after the ECB’s rate hike and amid expectations of a Fed rate increase.

Despite banking crisis concerns, gold prices are near 1-1/2 month peak as investors seek safe-haven assets. Fed’s expected rate hike may impact it.

Crude oil prices bounced back on Thursday, after reports that Saudi Arabia and Russia had a meeting to discuss ways of enhancing market stability.