What you need to know on Tuesday, February 9:
The week started in slow motion, amid the absence of a fresh catalyst. The macroeconomic calendar was scarce and will remain so throughout the week. The FX board depended exclusively on US Treasury yields, as the dollar appreciated or fell alongside them. US Treasury yields finished the day with losses, but the yield on the 10-year note hit 1.20%, while that of the 30-year note briefly topped 2%, their highest since March 2020.
Major pairs remained confined to familiar levels, with the greenback ending the day with uneven losses against most of its major rivals. The EUR/USD pair met sellers around 1.2070, finishing the day unchanged around 1.2050. GBP/USD closed once again a few pips below this year’s high at 1.3758.
USD/CAD remained lifeless despite soaring crude oil prices, while AUD/USD advanced beyond 0.7700.
EU Trade Commissioner Valdis Dombrovskis said that the EU’s economy is expected to rally in the second quarter of the year with more coronavirus immunization. He added that he expects vaccination to accelerate significantly in the coming weeks and the economy to return to pre-crisis levels in 2022.
The UK reported less than 100,000 new coronavirus daily cases for the first time since November. The kingdom has vaccinated with one-shot at least 17% of its population. The number of new cases in the US is also trending lower, alongside hospitalizations.
Gold edged higher, amid receding dollar’s demand. Spot settled at $ 1,832.40 a troy ounce. Crude oil prices also advanced, with WTI settling around $58.00 a barrel.
Dogecoin price on the verge of a pullback to $0.06 as indicator flashes sell signals
Churchill Capital Corp IV (CCIV) Stock Price and News: Buy the dip opportunity?
Share
