EUR is in Correction Up
#market_pulse #currencies
☕️ Dollar Ascendant as Surging US Yields Spur Safety Bid
▫️ Dollar: The dollar scaled a two-week peak against major peers on Thursday, as a rout in Treasuries improved the currency's allure due to higher U.S. yields and demand for safe haven assets. The dollar index reached 105.17, the highest since May 14.
▫️ Euro: The euro slipped to $1.079375 for the first time since May 14, extending its losses.
▫️ Pound Sterling: Sterling sank to $1.2696, continuing its retreat after reaching $1.2801 on Tuesday for the first time since March 21.
▫️ Japanese Yen: The yen climbed off an overnight four-week low of 157.715 per dollar to last trade at 157.36. Despite higher Japanese bond yields, the yen remains weak amid suspected intervention and rising U.S. yields.
▫️ Australian Dollar: The Aussie eased to $0.6653, retreating from recent highs even after Australian inflation unexpectedly rose to a five-month high in April.
▫️ New Zealand Dollar: The kiwi slipped to $0.6122, also pulling back as U.S. rate cut expectations were dialed back.
▫️ Swiss Franc and Chinese Yuan: The Swiss franc touched its lowest since April 2023 at 0.9928 per euro. The yuan weakened to 7.24 per dollar, its lowest since early May.
▫️ Treasury Yields: A two-day, 15-basis point jump above 4.6% for long-term Treasury yields spooked investors, sending global equities sliding sharply and spurring a rush to safe haven assets.
▫️ Market Outlook: Revised U.S. GDP figures are due later today, followed by the release of the Personal Consumption Expenditures (PCE) price index on Friday, the Fed's preferred measure of inflation.
👀 Key Developments to Watch:
Revised U.S. GDP figures later today
PCE price index release on Friday
Tokyo CPI on Friday
Japan's finance ministry data on intervention size
💵💵💵
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☕️ Dollar Ascendant as Surging US Yields Spur Safety Bid
▫️ Dollar: The dollar scaled a two-week peak against major peers on Thursday, as a rout in Treasuries improved the currency's allure due to higher U.S. yields and demand for safe haven assets. The dollar index reached 105.17, the highest since May 14.
▫️ Euro: The euro slipped to $1.079375 for the first time since May 14, extending its losses.
▫️ Pound Sterling: Sterling sank to $1.2696, continuing its retreat after reaching $1.2801 on Tuesday for the first time since March 21.
▫️ Japanese Yen: The yen climbed off an overnight four-week low of 157.715 per dollar to last trade at 157.36. Despite higher Japanese bond yields, the yen remains weak amid suspected intervention and rising U.S. yields.
▫️ Australian Dollar: The Aussie eased to $0.6653, retreating from recent highs even after Australian inflation unexpectedly rose to a five-month high in April.
▫️ New Zealand Dollar: The kiwi slipped to $0.6122, also pulling back as U.S. rate cut expectations were dialed back.
▫️ Swiss Franc and Chinese Yuan: The Swiss franc touched its lowest since April 2023 at 0.9928 per euro. The yuan weakened to 7.24 per dollar, its lowest since early May.
▫️ Treasury Yields: A two-day, 15-basis point jump above 4.6% for long-term Treasury yields spooked investors, sending global equities sliding sharply and spurring a rush to safe haven assets.
▫️ Market Outlook: Revised U.S. GDP figures are due later today, followed by the release of the Personal Consumption Expenditures (PCE) price index on Friday, the Fed's preferred measure of inflation.
👀 Key Developments to Watch:
Revised U.S. GDP figures later today
PCE price index release on Friday
Tokyo CPI on Friday
Japan's finance ministry data on intervention size
💵💵💵
GET $20,000 JUST FOR $99 *** PERFECT20 (promo code)
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