Talks of Fed easing, coupled with record lows in US Treasury yields, witnessed the euro firmly advance Monday, adding more than 120 points into the close. EUR/USD weekly price recently touched gloves with channel resistance, extended from the high 1.1569.
Global Markets: Asian Stock Markets : Nikkei up 0.95%, Shanghai Composite up 3.15%, Hang Seng up 0.52%, ASX down 0.77% Commodities : Gold at $1600.70 (+2.17%), Silver at $16.93 (+2.86%), Brent Oil at $51.16 (+3.00%), WTI Oil at $45.95 (+2.66%) Rates : US 10-year yield at 1.104, UK 10-year yield at 0.448, Germany 10-year yield … Continue reading Monday 2nd March: Markets gain even as China PMI dips lower
EUR/USD bulls went on the offensive last week, adding more than 170 points into the close. The chart directed focus to the recent break of resistance at 1.0873, the 2016 yearly opening level, after bottoming off channel support, taken from the low 1.1109.
Global Markets: Asian Stock Markets : Nikkei down 3.67%, Shanghai Composite down 3.50%, Hang Seng down 2.97%, ASX down 3.25% Commodities : Gold at $1632.90 (-0.58%), Silver at $17.13 (-3.00%), Brent Oil at $50.29 (-2.78%), WTI Oil at $45.66 (-3.04%) Rates : US 10-year yield at 1.234, UK 10-year yield at 0.487, Germany 10-year yield … Continue reading Friday 28th February: Red Red Red everywhere in Coronavirus bloodbath
Increased selling in US Treasury yields weighed on the US dollar index Thursday, with the 10-year benchmark shaking hands with all-time lows at 1.23%. Optimistic data out of the US – durable goods and pending home sales – failed to offer much respite, with the DXY testing lows at 98.36 and marginally fading daily support priced in at 98.45.
