Monday , January 22 2018

Dollar drops as treasuries steady

Dollar drops, treasuries steady copy



The dollar fell and Treasuries held gains as soft inflation data from the US continued to feed into markets after the holiday weekend. US stocks edged higher as upbeat economic data from China offset lingering geopolitical concerns.
The S&P 500 Index rebounded from a weekly drop, though trading was light, with many key markets still shut for Easter. Bloomberg’s Dollar Spot Index slipped to the weakest in three weeks while the yield on 10-year Treasuries held near a November low. Gains in gold and the yen faded. Turkey’s lira jumped as much as 2.4 percent after a vote expanded powers for the president. Copper jumped after China’s economic growth accelerated.
Macro news and events have been piling up over the long weekend, from inflation data casting doubt on the pace of Fed rate hikes and the US decision not to label any countries currency manipulators to North Korea’s failed ballistic missile launch and Turkey’s referendum. Investors will be bracing for more to come, as the earnings season ramps up and European populism is put to the test in the first round of France’s presidential election.
“Geopolitical uncertainty weighed on global markets over the holiday weekend,” Cole Akeson, a strategist at Sberbank CIB in Moscow, wrote in an emailed note. “However, the macro data out of China this morning was slightly better than expected. For global markets generally and European markets in particular, the first round of the French presidential election on Sunday is probably the biggest planned event of the week.”

About Admin

Check Also

epa06360265 A board on the floor of the New York Stock Exchange shows the Dow Jones industrial average surpassing 24,000 for the first time at the end of the trading day as in New York, New York, USA, on 30 November 2017. The Dow closed up 331 points at 24,272, reportedly in response to news that the US Congress was getting close to passing tax reform legislation.  EPA-EFE/JUSTIN LANE

Stocks race to records as earnings remain strong

Bloomberg US stocks jumped to records with the Dow Jones Industrial Average crossing 26,000 and ...

Leave a Reply

Your email address will not be published. Required fields are marked *