EUR/USD 1.16419
-0.021%
Gold 4208.04
-0.016%
Oil 59.411
-0.123%
USD/JPY 155.151
0.026%
GBP/USD 1.33234
-0.029%
GBP/JPY 206.719
0.013%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
1. The three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average fell 0.07% to 47,850.94 points, the S&P 500 rose 0.11% to 6,857.12 points, and the Nasdaq Composite rose 0.22% to 23,505.14 points. 3M Inc. fell more than 2%, and UnitedHealth Group fell nearly 2%, leading the decline in the Dow Jones. The Wind U.S. Tech Big Seven Index rose 0.4%, Facebook rose more than 3%, and Nvidia rose more than 2%. Chinese concept stocks were mixed, with Wanwu New Energy rising nearly 9% and Daqo New Energy falling nearly 3%. Market sentiment was cautious ahead of the Federal Reserves monetary policy meeting next week. 2. European stock markets closed higher across the board. The German DAX index rose 0.87% to 23,899.33 points, the French CAC40 index rose 0.43% to 8,122.03 points, and the UK FTSE 100 index rose 0.19% to 9,710.87 points. Boosted by positive US ADP employment data and expectations of interest rate cuts, global risk sentiment improved, with strong performances in German auto stocks and French technology stocks driving the market upward. 3. US Treasury yields rose across the board. The 2-year Treasury yield rose 3.71 basis points to 3.521%, the 3-year Treasury yield rose 4.78 basis points to 3.545%, the 5-year Treasury yield rose 4.51 basis points to 3.673%, the 10-year Treasury yield rose 3.48 basis points to 4.098%, and the 30-year Treasury yield rose 2.39 basis points to 4.755%. 4. The WTI crude oil futures contract closed up 1.27% at $59.7 per barrel; the Brent crude oil futures contract rose 1.04% to $63.32 per barrel. 5. International precious metals futures closed mixed. COMEX gold futures rose 0.13% to $4237.9 per ounce, while COMEX silver futures fell 1.86% to $57.53 per ounce. White House officials hinted at a possible interest rate cut, reducing the opportunity cost of holding gold. EU policy adjustments and the US adding silver to its list of critical minerals impacted market demand for safe-haven assets. 6. London base metals traded mixed. LME lead rose 0.85% to $2016.00/ton, LME zinc rose 0.65% to $3085.00/ton, LME nickel rose 0.08% to $14885.00/ton, LME aluminum fell 0.33% to $2887.50/ton, LME copper fell 0.47% to $11434.00/ton, and LME tin fell 0.59% to $40540.00/ton. Commodity trader Mercuria plans to withdraw more than 40,000 tons of copper from LMEs Asian warehouses.South Koreas unadjusted current account balance for October was $6.81 billion, compared to $13.4674 billion in the previous month.According to Asahi Shimbun, Japanese Defense Minister Shinjiro Koizumi will visit the United States in early January.U.S. Trade Representative Greer: The U.S.-Mexico-Canada Agreement had some problems, and some of those problems have been addressed.The Federal Reserve stated that the changes could include a significant reduction in checking services, or a substantial, gradual reduction in checking services, thereby lowering operating costs.

US Dollar Index reaffirms 20-year high on Ukraine-related news

Alina Haynes

Sep 26, 2022 14:32

 截屏2022-09-26 上午9.58.34.png

 

While risk aversion rises on Monday morning, the US Dollar Index (DXY) is still bullish over 113.80. It recently reclaimed the 20-year high above 114.70. In addition to bad attitude, Fed members' hawkish views also assist the US currency.

 

The head of the Federal Reserve, Jerome Powell, said, "We are committed to deploying our tools," on Friday. Fed Vice Chair Lael Brainard then added that low-income people are feeling the effects of "hard" inflation. Despite the economy's continuing speed, Atlanta Federal Reserve President Raphael Bostic told CBS' "Face the Nation" over the weekend that he still believes the central bank can cut inflation without substantial job losses.

 

Recent US S&P Global PMIs for August, issued on Friday, showed an increase in the Manufacturing index to 51.8 from 51.5, and an increase in the Services index to 49.0 from 44.6.

 

The president of Ukraine, Zelenskiy, was recently mentioned on a different page of a CBS article as saying, "Putin's nuclear threats may have been a bluff, but now it may be a reality." While Russia's foreign minister said annexing territory hosting widely criticized referendums would be met with complete protection from Moscow, the United States warned of "catastrophic ramifications" if Moscow utilized nuclear weapons in Ukraine.

 

Despite the Fed's hawkish attitude and rate increase, risk aversion gripped Wall Street, and rates helped the US currency stay higher. Although this occurs, S&P 500 Futures only fall by a few points as 10-year US Treasury yields climb by four basis points to 3.74 percent.

 

The US dollar index's future strength against major currencies may be aided by investors' reluctance to take on additional risk. Still, comments from Fed Chair Powell and US Durable Goods Orders are major triggers to keep an eye on for clues about the market's future course.

 

A daily close above 114.00, which coincides with a higher-trending resistance line from May, is needed for the DXY bulls to keep control. Dollar investors, however, should be wary of the indicator's current overbought reading of 14.


Suggestion