Last week was quieter than normal on the economic data side. The main focus remained Yields and the US Dollar.
The Dollar was slightly lower on the week with the DXY down by just shy of 0.5%. Mixed economic data is not giving the US Dollar any way to gain traction at the moment especially with the leading economic indicators persisting in giving warning signs over the economy.
The Euro had a positive week. The single currency is still in the doldrums. With improved economic data released last week in the form of improving Manufacturing PMI the Euro still failed to make headway.
GBP suffered a similar week but did close the week more improved than the Euro. The GBP gained 1% as UK PMI printed in an expansionary way.
Commodity currencies continued for a second week in strong form despite oil falling and Yields having an up week from their recent lows. AUD gained 1% and NZD gained 1.5%.
Oil continued to slide as market focus moves more towards the demand side than supply. The continued global economic outlook remains challenging, and the view is demand is more likely to decrease. WTI fell 1.2%.
The week ahead we have more economic releases. US Core PCE, which is the inflationary measure, is out along with US GDP. We also have further CPI and PMI data from around the world.
Weekly Majors Market Performance
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The post Yields Find Support first appeared on trademakers.
The post Yields Find Support first appeared on JP Fund Services.
The post Yields Find Support appeared first on JP Fund Services.
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Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
