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US Dollar triumphs while seismic shift in markets faces undergoes third day of brutal repricing
The post US Dollar triumphs while seismic shift in markets faces undergoes third day of brutal repricing appeared on BitcoinEthereumNews.com. The US Dollar locks in gains for this Friday and this week, trading at the strongest level since early-November. Traders are pushing the Greenback higher while markets are diving the forex markets in two camps with weaker-for-longer and stronger-for-longer currencies The US Dollar Index rallies towards 106.00. The US Dollar (USD) is being driven higher with a big thanks to geopolitical tensions, Risk Off in US equity markets and the driving rate differential that sees US rates higher for longer against competitors. Investors don’t seem to be taking profits despite the recent rally, which could mean that more US Dollar strength is on the cards for next week. The main driver for the move is the breakdown in European bonds, with yields sinking against very steady ones in the US, as the rate differential between both sides of the Atlantic expands. On the economic data front, traders are starting to applaud good data under the label of US exceptionalism. Equities could well be set to rally as well despite higher interest rates, buying the idea that there is no landing taking place in the economy and that the current level of high rates is even good to keep it from overheating. The University of Michigan numbers this afternoon could build up a case further for the above narrative. Daily digest market movers: ECB delivers kill shot for Euro Several European Central Bank members came out this morning with overall a similar message that cuts need to take place now and June is a guarantee. This triggered already over 0.70% of losses for the Euro against the Greenback. The Euro acocunts for a near 57% of weighting in the US Dollar Index (DXY). The Import and Export Price Indexes data for March: The monthly Export Price Index went from 0.7% to…
The post US Dollar triumphs while seismic shift in markets faces undergoes third day of brutal repricing appeared on BitcoinEthereumNews.com.
The US Dollar locks in gains for this Friday and this week, trading at the strongest level since early-November. Traders are pushing the Greenback higher while markets are diving the forex markets in two camps with weaker-for-longer and stronger-for-longer currencies The US Dollar Index rallies towards 106.00. The US Dollar (USD) is being driven higher with a big thanks to geopolitical tensions, Risk Off in US equity markets and the driving rate differential that sees US rates higher for longer against competitors. Investors don’t seem to be taking profits despite the recent rally, which could mean that more US Dollar strength is on the cards for next week. The main driver for the move is the breakdown in European bonds, with yields sinking against very steady ones in the US, as the rate differential between both sides of the Atlantic expands. On the economic data front, traders are starting to applaud good data under the label of US exceptionalism. Equities could well be set to rally as well despite higher interest rates, buying the idea that there is no landing taking place in the economy and that the current level of high rates is even good to keep it from overheating. The University of Michigan numbers this afternoon could build up a case further for the above narrative. Daily digest market movers: ECB delivers kill shot for Euro Several European Central Bank members came out this morning with overall a similar message that cuts need to take place now and June is a guarantee. This triggered already over 0.70% of losses for the Euro against the Greenback. The Euro acocunts for a near 57% of weighting in the US Dollar Index (DXY). The Import and Export Price Indexes data for March: The monthly Export Price Index went from 0.7% to…
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