The long-term US Treasury bond yields have declined, causing the US dollar to drop yesterday While the Yellow prices surged to a near one-month high

02 Feb, 2024

The long-term US Treasury bond yields have declined, causing the US dollar to drop yesterday While the Yellow prices surged to a near one-month high

On Thursday, the US dollar index reversed its gains under pressure from a stronger pound, falling to near the 103 level, close to its levels before the Federal Reserve's interest rate decision on Wednesday, eventually closing down by 0.446% at 103.06. Concerns about a return of banking crises offset the impact of cooling rate-cut expectations as the 10-year US Treasury bond yield dropped below the 3.9% level, ultimately closing at 3.882%, hitting a new low for the year. The two-year US Treasury bond yield, which is more sensitive to Federal Reserve policy rates, closed at 4.211%.

On Thursday, February 1st, gold prices gradually rose, nearing a one-month high. Prior data showed an increase in US jobless claims last week, shifting market focus to US non-farm employment data for more clues on the direction of Federal Reserve monetary policy.

Also on Thursday, amid increased tensions in the Red Sea due to military actions, concerns over Middle East supplies persisted, and expectations for the OPEC+ meeting kept traders cautious, causing oil prices to drop by more than 2%.

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