Currency futures were subdued on Monday as the dollar remained elevated after Friday’s rally. The greenback soared after the Fed Chair’s comments increased rate hike expectations.
Fundamental Analysis
Interest Futures Dip as Markets Brace for Jackson Hole
Interest futures were down on Friday as market participants looked forward to key speeches during the Jackson Hole symposium. Meanwhile, a surge in oil prices on Wednesday and Thursday supported Treasury yields, hurting bonds.
Oil Slips on Iran-Oman Strait of Hormuz Deal
Oil prices fell on Thursday after Iran reached a deal with Oman to manage the Strait of Hormuz. At the same time, market participants were relieved when the US chose to use sanctions against Iran.
Gold Rally Stalls Ahead of Key US Inflation Data
Gold paused its recent rally on Wednesday as market participants cautiously awaited the US core PCE price index report.
US Equities Tread Water Ahead of Nvidia Earnings
Equities were subdued on Tuesday as investors cautiously awaited Nvidia’s earnings report. At the same time, traders are looking forward to US inflation figures, which will shape the outlook for Fed rate hikes.
Currency Futures Rally as Dollar Struggles Ahead of Jackson Hole
Currency futures started the week on a strong footing as the US dollar struggles to regain momentum. The greenback remains near multi-month lows