Resilient labor data strengthens the greenback
US Initial jobless claims in February fell to 190,000, lower than the market expectation of 195,000 and January's reading of 192,000. A tight labor market has strengthened the greenback against its peers, as continued rate hikes become more likely. USD/CAD traded 2 pips higher to 1.3596, and USD/JPY climbed 58 pips to 136.76.
EUR/USD declined 69 pips to 1.0596, as the Eurozone year-on-year inflation rate dropped to 8.5% in February, higher than Mitrade's projections. GBP/USD plunged 90 pips to 1.1941, and AUD/USD decreased 32 pips to 0.6729.
Spot gold closed $0.98 lower at $1,835.74 an ounce, and WTI oil futures edged up $0.47 to $78.16 a barrel. Bitcoin and Ethereum declined to $22,845.0 and $1,581.56 respectively.
The Dow Jones Industrial Average surged 341 points (+1.05%) to 33,003. The Nasdaq 100 rose 106 points (+0.89%) to 12,044, and the S&P 500 also increased 29 points (+0.76%) to 3,981.
EUR/USD declined 69 pips to 1.0596, as the Eurozone year-on-year inflation rate dropped to 8.5% in February, higher than Mitrade's projections. GBP/USD plunged 90 pips to 1.1941, and AUD/USD decreased 32 pips to 0.6729.
Spot gold closed $0.98 lower at $1,835.74 an ounce, and WTI oil futures edged up $0.47 to $78.16 a barrel. Bitcoin and Ethereum declined to $22,845.0 and $1,581.56 respectively.
The Dow Jones Industrial Average surged 341 points (+1.05%) to 33,003. The Nasdaq 100 rose 106 points (+0.89%) to 12,044, and the S&P 500 also increased 29 points (+0.76%) to 3,981.