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 25, 2021
HONG KONG (AFP) – Equity markets were mixed yesterday as inflation concerns played off against optimism over the global economic recovery, while spiking infections in parts of the region also kept investors on their toes.
Wall Street provided a tepid lead at the end of last week, though European equities were given a boost by upbeat eurozone economic data and progress in the bloc’s vaccination drive after a slow start.
With expectations that the global recovery will pick up pace this year, the main focus is now on the impact that will have on prices, with observers warning a long period of high inflation will force central banks to wind back the ultra-loose monetary policies that have helped fire a long-running market rally.
The U.S. policymakers are ready to talk about reducing stimulus by tapering bond purchases
Probably it is not the best moment for investing in Comcast, PayPal and Adobe
U.S. stocks ended mostly lower on Friday, pressured by technology and consumer discretionary shares. Investors are selling tech-related companies amid concerns about the rising interest rate, and according to the latest news, U.S. policymakers are ready to talk about reducing stimulus by tapering bond purchases.
Dallas Fed President Robert Kaplan said that tapering should start “sooner rather than later,” while Philadelphia Fed President Patrick Harker also confirmed Kaplan’s words on Friday.
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