European Central Bank raises rates by 50 basis points
The European Central Bank has decided to raise its interest rate by 50 basis points to 3.00% - the highest level since 2008. The ECB President remained confident in the continent's banking sector despite recent doubts raised within Credit Suisse. As a result, EUR/USD added 30 pips to 1.0605. Later tonight, Mitrade expects the Eurozone's year-on-year inflation rate to remain at 8.5%.
GBP/USD increased 42 pips to 1.2107, and AUD/USD added 39 pips to 0.6654. USD/CAD declined 49 pips to 1.3718, as USD/JPY advanced 32 pips to 133.72.
Yesterday, the US stock market closed higher, with the Nasdaq 100 climbing 330 points to 12,581. The S&P 500 also gained 68 points to 3,960, while the Dow Jones Industrial Average rose 371 points to 32,246.
Spot gold increased $1.55 to $1,919.55 an ounce, and WTI crude futures edged up $0.10 to $68.35 a barrel. Bitcoin surged past the key level of $25,000 to $25,114.0, and Ethereum recovered to $1,671.99.
GBP/USD increased 42 pips to 1.2107, and AUD/USD added 39 pips to 0.6654. USD/CAD declined 49 pips to 1.3718, as USD/JPY advanced 32 pips to 133.72.
Yesterday, the US stock market closed higher, with the Nasdaq 100 climbing 330 points to 12,581. The S&P 500 also gained 68 points to 3,960, while the Dow Jones Industrial Average rose 371 points to 32,246.
Spot gold increased $1.55 to $1,919.55 an ounce, and WTI crude futures edged up $0.10 to $68.35 a barrel. Bitcoin surged past the key level of $25,000 to $25,114.0, and Ethereum recovered to $1,671.99.