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.