The yield of US treasury bond bonds rose significantly The US dollar rose slightly on Tuesday, Gold price rebounded with three consecutive bullish days

29 May, 2024

The US dollar index, which measures the US dollar against six major currencies, rose 0.02% on May 28th and closed at 104.614 at the end of the foreign exchange market.

The US dollar index, which measures the US dollar against six major currencies, rose 0.02% on May 28th and closed at 104.614 at the end of the foreign exchange market. As of the end of the trading day in New York, 1 euro was exchanged for $1.0858, higher than the previous trading day's $1.0857; 1 pound is exchanged for $1.2758, which is lower than the previous trading day's $1.2769. 1 US dollar was exchanged for 157.15 yen, higher than the previous trading day's 156.87 yen; 1 US dollar to 0.9122 Swiss francs, lower than 0.9135 Swiss francs on the previous trading day; 1 US dollar is exchanged for 1.3648 Canadian dollars, which is higher than the previous trading day's 1.3632 Canadian dollars; The exchange rate for 1 US dollar is 10.5709 Swedish kroner, lower than the previous trading day's 10.6126 Swedish kroner.

 

Gold prices continued to rebound on Tuesday (May 28th), closing at $2361.17 per ounce, with three consecutive positive days on the daily chart. This was driven by safe haven buying driven by the weakening US dollar and geopolitical concerns, but overall gains remained limited. Investors are looking forward to the release of US inflation data later this week to further clarify the timing of rate cuts. Technically speaking, the upper level continues to focus on resistance near the 10 day moving average, currently around 2375. Before breaking through this level, there is still a risk of further pullback in the future.

 

Oil prices rose more than $1 on Tuesday (May 28th), with market expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, will continue to restrict crude oil supply at the June 2nd meeting. At the same time, the beginning of the US summer driving season and the weakening of the US dollar also boosted commodities. The closing price of US crude oil is at $80.28 per barrel, which is already above the key position of the 200 day moving average of 79.91, adding a bullish signal in the future on a technical level.

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