US Dollar Outlook: USD Rally Stalls Ahead of FOMC- DXY Levels
The Dollar snapped a two-week winning streak after faltering at technical resistance- all eyes on FOMC. Here are the levels that matter on the DXY technical charts.
Oil Edges Lower, with Brent Hovering near 70 Barrel
Oil futures edged lower Friday, pulling back modestly after a rally led by optimism over U.S. gasoline demand helped push the global benchmark to its highest close since May 2019. West Texas Intermediate crude for April delivery fell 21 cents, or 0.3, to 65.81 a barrel on the New York Mercantile Exchange. May Brent crude was off […]
Gold Prices Sink, on Track to Halt a 3Session Rise as 10Year Yield and Dollar Resume RunUp
Futures contracts for gold were under sharp selling pressure Friday as government debt resumed a selloff, pushing yields commensurately higher and placing renewed pressure on bullion. A jump in the U.S. dollar also weighed on precious metals, which were still holding on to modest gains. April gold on Comex was down 19.80, or 1.2, to trade […]
Food, Chemicals and Cars UKEU Trade Takes Hit in January
Exports and imports of goods between the United Kingdom and the European Union fell sharply in January, the first month of their new postBrexit relationship. Britains statistics office said disruption caused by the end of the transition period contributed to the fall although a new COVID19 lockdown in the country and stockpiling before the Jan. […]
Investors Dump Bonds and Gold, Pile Into Equities BofA
Investors piled into equities, while pulling money out of gold and bonds in the week up to March 10, data from BofA Global Research showed. BofAs weekly flows report showed investors put 31.5 billion into equities, while taking 1.8 billion out of gold and 15.4 billion out of bonds. Bond yields spiked higher last week […]
Gold Price Trading at a Critical Level of Support; XAU Hold or Fold?
Gold weakness continues, and is doing so at an important level of support; watch how price action plays out here.
BOJ to Offer Clearer Guidance on Acceptable Yield Moves
The Bank of Japan will likely insert clearer guidance in its policy statement on what it sees as an acceptable level of fluctuation in longterm interest rates, sources said, in an effort to show it wont tolerate rises that hurt the economy. The move would be part of the BOJs review of its policy tools […]
Bitcoin Futures Open Interest Hits new ATH as Traders Flock to Derivatives
With BTC again edging toward alltime highs, a large volume of money is flowing into the Bitcoin derivatives markets. According to crypto market data aggregator Glassnode, outstanding futures contracts pushed into new alltime highs on March 11, with open interest across exchanges approaching 20 billion. Options have also surged to see record volumes in 2021, […]
EUR Gains despite ECB PushBack on Yields; Canada Employment
Rates as of 0500 GMT Market Recap Well, I was wrong about the European Central Bank ECB meeting. I was even wrong about President Lagardes scarf! she didnt wear one this time. They did take a concrete step to deal with higher bond yields, namely they announced that purchases under their Pandemic Emergency Purchase Programme […]
EM Stocks Set for Best Week in Month; Strong USD Weighs on FX
March 12 Reuters Emerging markets currencies and stocks looked to end a volatile week on a sour note on Friday, with a dollar on the rise dousing risk appetite. MSCIs index of EM stocks fell 0.4 as a pickup in U.S. bond yields pressured risk assets. Gains during Asian hours were erased with a 2.2 […]