Reversing the declining trend Dow Jones Index closed up 1.06% at 32,155 adding +336. Initially DJI had lost all intra day gains by 3:15. But recouped losses in last 45 minutes.
Brent Trading below $80.
US Dollar Index at 103.5 is at month's low.
Saudi Arabia deposit of $5 bln enters Turkish central bank accounts. Ankara already has a total $28 billion currency swap deals with the United Arab Emirates, China, Qatar and South Korea. Turkey’s net foreign exchange reserves have rebounded from just over $6 billion last summer, when they were at their lowest in at least 20 years. Read More.
US CPI report showed that monthly inflation rose by 0.4% in February from January, in line with expectations, resulting in annual inflation slowing to 6%, the lowest since September 2021. Still, the same report showed that core inflation exceeded expectations, underscoring a still challenging macro environment.