Dollar Edges Higher on Crude Oil Strength
View original at nasdaq.comDollar Edges Higher on Crude Oil Strength The dollar index (DXY00) on Monday rose by +0.05%. The dollar was supported on Monday by increased safe-haven demand after the US and Iran failed to reach terms to end the war…
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Iran's latest peace proposal to end the conflict is totally unacceptable.
60% confidenceSwaps are discounting an 84% chance of a +25 bp rate hike by the ECB at the next policy meeting on June 11.
60% confidenceMarkets are discounting a 73% chance of a 25 bp BOJ rate hike at the next policy meeting on June 16.
60% confidenceJapan imports more than 90% of its energy needs, making the yen particularly vulnerable to crude oil price increases.
60% confidencePBOC gold reserves rose by +260,000 ounces to 74.64 million troy ounces in April — the largest monthly increase in a year and the eighteenth consecutive month of additions.
60% confidenceChina April exports rose +14.1% y/y, stronger than expectations of +8.4% y/y.
60% confidenceLong holdings in silver ETFs fell to a 9-month low last Tuesday after rising to a 3.5-year high on December 23.
60% confidenceThe +2% crude oil price increase boosts inflation expectations and may prompt the Fed to tighten monetary policy, a supportive factor for the dollar.
60% confidenceSwaps markets are discounting 5% odds for a 25 bp rate cut at the next FOMC meeting on June 16-17.
60% confidenceUS April existing home sales rose +0.2% m/m to 4.02 million, weaker than expectations of 4.05 million.
60% confidenceIf energy prices do not improve significantly, an ECB interest rate hike will be unavoidable in the near future.
60% confidenceLong holdings in gold ETFs fell to a 5-month low on March 31 after climbing to a 3.5-year high on February 27.
60% confidenceChina April imports rose +25.3% y/y, stronger than expectations of +20.0% y/y.
60% confidenceHigher crude oil prices boost inflation expectations and may prompt world central banks to tighten monetary policy, a bearish factor for precious metals.
60% confidence
Data points we hold from this source
| United States Government · gdp | 4.02 millions_annualized |
