The Federal Reserve’s aggressive plans for tightening this year is the main reason for robust dollar demand but the prospect of Quantitative Tightening, which is the opposite of quantitative easing caused investors to shrug off mixed data and step up their purchases this month.
Job growth in the U.S. slowed significantly last month. The U.S. dollar sold off when the numbers came out but recovered quickly for 3 reasons.
The U.S dollar rose to 4.5 year highs against the Japanese Yen and 16 month highs against the euro today as Treasury yields extended their gains.
Oil continues to hover near multi year highs with yesterday’s surprise inventory draw numbers only adding to the bullish posture of the market. Although the Biden administration has made several attempts to jawbone the price of oil lower, first by appealing to OPEC to increase production and them hinting that it may release some stockpiles from the SPR reserve most analysts believe that crude and the whole hydrocarbon complex will at very minimum remain steadily bid for the foreseeable future.
The best performing currencies today were the New Zealand, Australian and Canadian dollars. Having fallen to year to date lows last week, commodity currencies snapped
Is there a more hated sector of the US economy than Big Oil? From environmental concerns to demand destruction from COVID induced
Interest in silver has exploded recently with metal rising to $30 per ounce for the first time since 2013.
Let’s agree on one thing. Both gold and bitcoin are totally worthless. And before any gold bug chimes in