Market Overview May 15

Resuming gains after a break on Friday, the dollar dropped versus a basket of key rivals in European trade on Monday, drawing closer to two-week lows as US 10-year Treasury yields slowed down.

Economic News
2024年5月15日

Resuming gains after a break on Friday, the dollar dropped versus a basket of key rivals in European trade on Monday, drawing closer to two-week lows as US 10-year Treasury yields slowed down.

The Japanese government's intervention to boost the yen after it fell below 160 per dollar for the first time since 1990 also puts pressure on the greenback.

The Index

The dollar index closed up 0.5% on Friday, moving away from a two-week low at 105.41, and dropped 0.6% to 105.46, with a session high at 106.09.

Following strong US personal spending figures for March, the dollar also strengthened.

The information decreased the likelihood of a June or July interest rate cut by the Fed and increased pressure on Fed policymakers.

US Percentages

US 10-year Treasury rates dropped 1% on Monday, continuing their downward trend from five-month highs of 4.739%. This put pressure on the currency and diminished its reputation.

The changes occur ahead of this week's Federal Reserve policy meeting, which is anticipated to provide new information on the direction of US interest rates this year.

US Exchange Rates

The likelihood of a 0.25% Fed interest rate cut in June dropped to just 12%, while the likelihood of one in July dropped to 32% in the wake of US personal expenditure data released on Friday.

In today's European trade, the Japanese Yen gained 2.5% against the US dollar, breaking through its 34-year low of 160.21.

The spike occurred as a result of Japanese government intervention to defend the local currency, which marks 160 as the price barrier that the Japanese government won't allow to cross.

Create an Account

Robert Thompson

Economic News

Market Overview May 8

Investors are now awaiting new data from other significant tech companies, including Apple this week, following the publication of financial reports by Tesla, Alphabet, and Microsoft last week.

Robert Thompson
2024年5月08日

Economic News

Market Overview May 1

In European trade on Tuesday, the euro fell against a group of significant competitors, retreating from two-week highs versus the dollar due to profit-taking ahead of significant inflation data for the eurozone.

Robert Thompson
2024年5月01日

Economic News

Market Overview April 24

While Middle East tensions persist, gold remains close to its historical highs. The rising tensions in the Middle East have caused traders to be cautious, which has kept the price of gold (XAU) high.

Robert Thompson
2024年4月24日