Futures in Australia and Japan slipped after on inflation fears over economic recovery from the pandemic. The US sharemarkets fell in the last hour of trade on Tuesday to end at session lows. The Dow Jones fell 0.8% and the S&P 500 fell 0.9%. Nasdaq lost 0.6% as large technology stocks like Amazon and Microsoft erased gains.
US yields were flat overnight. US 10-year yields were near 1.64%. US 2-year yields were flat near 0.15%.
FX trading on Tuesday saw a dollar gauge near the lowest level this year. The US dollar was weaker against major currencies according to ZERO Markets’ MetaTrader 4 platform. EUR/USD rose from lows near 1.2165 to highs around $1.2230. AUD/USD rose from lows near $0.7780 to highs around $0.7790.
Global oil prices traded lower on the back of the possibility of more supply from Iran hurt energy stocks. Brent crude fell by 1.1% to $US 68.71 a barrel.
Precious metals trading saw gold rose by less than 0.1% to near $US1868 an ounce. Iron ore prices jumped by 3.1% to $223.75 a tonne.
Lastly, cryptocurrency trading declined to the lowest level since February after the People’s Bank of China reiterated that digital currencies cannot be used as a form of payment.
Key events this week:
- Fed minutes (Wednesday)
- Australia employment data (Thursday)
ZERO Markets is a globally regulated broker that provides next-gen technology, pricing, and execution performance. It provides educational material, economic calendar, and 24/5 multilingual customer support services. Start trading with ZERO on tight spreads from 0.0 pips today!
Leave a Reply