The EU's GDP data was better than expected, leading to a slight decline in the U.S. dollar The Yellow surged initially but then retreated and consolidated
The EU's GDP data was better than expected, leading to a slight decline in the U.S. dollar The Yellow surged initially but then retreated and consolidated
On Tuesday, the U.S. Dollar Index fluctuated lower, momentarily turning positive due to strong employment data, but then resumed its decline, closing down 0.072% at 103.4. The yield on the 10-year U.S. Treasury note also briefly surged during the U.S. trading session but continued to fall towards the end of the session, hitting a new intraday low, and finally closed at 4.035%. The yield on the 2-year U.S. Treasury note, more sensitive to Federal Reserve policy rates, barely closed up at 4.339%.
Supported by a softer U.S. dollar and U.S. Treasury yields, spot gold briefly reached its highest level since January 16th, but erased most of its gains after the job vacancy data was released, ultimately closing up 0.19% at $2036.78 per ounce. Spot silver ended down 0.19% at $23.16 per ounce.
International crude oil prices turned from decline to rise due to the IMF raising its global economic growth forecast for this year, which boosted demand prospects. The market is also waiting to see how the U.S. will respond to the fatal drone attack on its troops in the Middle East. WTI crude closed up 1.04% at $77.68 per barrel, and Brent crude closed up 0.55% at $82.86 per barrel.