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Gold Price Forecast: XAU/USD retreats toward $1,780, erases majority of daily gains
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Diem s Stablecoins May Shape up Crypto Space Without Being Part of it – Bankless Times
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May 24, 2021 08:01 GMTFXStreet News
DXY refreshes intraday low, fades bounce off early January low.
Market sentiment dwindles amid a quiet session, US 10-years Treasury yields drop.
Fedspeak, Chicago Fed National Activity Index eyed for fresh impulse.
US dollar index (DXY) fails to extend Friday’s bounce off 4.5-month low, refreshing intraday bottom with 89.97 level, as European traders prepare for Monday’s bell. The greenback gauge jumped during late Friday amid tapering concerns. Though, a lack of major directives afterward weighs on the US Treasury yields and greenback by the press time.
Strong PMIs for May keep reflation fears on the table, which in turn pushed Atlanta Federal Reserve President Raphael Bostic and Philadelphia Fed President Patrick Harker to join Dallas Federal Reserve Bank President Robert Kaplan and back the need for tapering talks.
May 23, 2021 14:56 GMTFXStreet News
What you need to know on Monday, May 24:
The greenback recovered on Friday, ending the week mixed across the FX board.
The American appreciated following upbeat US data and comments from Federal Reserve officials suggesting a sooner rather than later discussion on tapering amid signs of heating inflation. On Friday, Atlanta Federal Reserve President Raphael Bostic said that he is worried about inflation getting entrenched, while Philadelphia Fed Patrick Harker noted that the Fed should start discussing tightening. Also, Dallas Federal Reserve Bank President Robert Kaplan reiterated that they are seeing a lot of uncertainty about inflation.
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