EUR/USD 1.15750
-0.058%
Gold 4125.88
-0.018%
Oil 60.138
-1.368%
USD/JPY 154.808
0.426%
GBP/USD 1.31173
-0.244%
GBP/JPY 203.070
0.192%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
A spokesperson for the British Prime Minister stated that attacks against cabinet members will be severely punished.1. Saudi Arabias crude oil production increased by 43,000 barrels per day (bpd) in October to 10,003,000 bpd. 2. Venezuelas crude oil production decreased by 7,000 bpd in October to 956,000 bpd. 3. The UAEs crude oil production increased by 7,000 bpd in October to 3,361,000 bpd. 4. Iraqs crude oil production increased by 34,000 bpd in October to 4,098,000 bpd. 5. Libyas crude oil production decreased by 30,000 bpd in October to 1,283,000 bpd. 6. Congos crude oil production increased by 1,000 bpd in October to 264,000 bpd. 7. Kuwaits crude oil production increased by 37,000 bpd in October to 2,552,000 bpd. 8. OPECs crude oil production increased by 33,000 bpd in October to 28,460,000 bpd. 9. Nigerias crude oil production increased by 15,000 barrels per day in October to 1.506 million barrels per day. 10. Algerias crude oil production increased by 4,000 barrels per day in October to 956,000 barrels per day. 11. Irans crude oil production decreased by 66,000 barrels per day in October to 3.209 million barrels per day. 12. Guineas crude oil production decreased by 4,000 barrels per day in October to 48,000 barrels per day.OPEC Monthly Report: Secondary data shows that Saudi Arabias crude oil production increased by 43,000 barrels per day in October to 10.003 million barrels per day. Venezuelas crude oil production decreased by 7,000 barrels per day in October to 956,000 barrels per day. The UAEs crude oil production increased by 7,000 barrels per day in October to 3.361 million barrels per day.OPEC Monthly Report: Secondary data shows that Iraqi crude oil production increased by 34,000 barrels per day in October to 4.098 million barrels per day. Libyan crude oil production decreased by 30,000 barrels per day in October to 1.283 million barrels per day. Congolese crude oil production increased by 1,000 barrels per day in October to 264,000 barrels per day.OPEC Monthly Report: Secondary data shows that Kuwaits crude oil production increased by 37,000 barrels per day in October to 2.552 million barrels per day.

The US Dollar Index maintains a level below 98.00, as sluggish GDP and ADP Payrolls rekindle concerns

Drake Hampton

Mar 31, 2022 09:54

Key Takeaways

  • The DXY has fallen below 98.00 following a disappointing performance by the US GDP and ADP Payrolls.

  • The risk-taking instinct has eroded the allure of safe-haven assets.

  • This week's big events include the US NFP and Russia-Ukraine peace negotiations.

 

The US dollar index (DXY) is under pressure from sluggish US economic indicators and increased demand for risk-sensitive assets following a positive conclusion from the first face-to-face Russia-Ukraine peace negotiations in Turkey. The big dollar-denominated index has fallen below 98.00, which has served as a significant support level in recent weeks.

Changes in the US GDP and ADP Employment

Wednesday's poor performance by US economic indices triggered a sharp sell-off in the mighty dollar. The US Bureau of Economic Analysis reported quarterly Gross Domestic Product (GDP) growth of 6.9 percent on an annualized basis, somewhat lower than forecasts and the previous print of 7%. While Automatic Data Processing (ADP) reported Employment Change of 455k, which was less than the market consensus of 450k and the previous print of 486k.

The positive consequence of Russia's peace talks with Ukraine

The withdrawal of Russian forces from northern Ukraine and the capital Kyiv following the conclusion of negotiations between Russia and Ukraine has bolstered market mood. Risky assets are gaining traction in an upbeat market environment, as investors view the event as a positive step toward a ceasefire. While Ukraine has recommended adapting a neutral position in light of its decision to refrain from alliances. On April 1, the nations will resume their peace talks through the internet.

 

This week's significant events include the release of Core Personal Consumption Expenditure, Initial Jobless Claims, Nonfarm Payrolls (NFP), the Unemployment Rate, and the ISM Manufacturing PMI.

 

On the back burner, prominent subjects include the Russia-Ukraine peace talks, the OPEC meeting, and Fed President John C. Williams' address.

SPOT ON THE DOLLAR INDEX

image.png 

Suggestion