Dollar rises on rally in U.S. Treasury yields before paring gains as the Dow hits record highs
|The greenback pared its recent losing streak and regained traction on Friday due to rally in U.S. Treasury yields and later pared intra-day gain on renewed risk sentiment as the Dow climbed to fresdh record highs, the Dow clsed up 293 points or 0.90% at 32,778.
Versus the Japanese yen, dollar found renewed buying at 108.50 in Australia to 108.78 in Asian morning on rally in U.S. Treasury yields before retreating to 108.67. The pair then rallied to session highs at 109.16 in Europe and then briefly retreated to 108.83 before moved broadly sideways in subdued New York afternoon.
The single currency met renewed selling at 1.1988 in Asian morning and tumbled to session lows of 1.1911 in Europe on usd's broad-based recovery due to rise in U.S. Treasury yields before recovering to 1.1961 on short covering due to rise in U.S. stocks. Price last traded at 1.1952 near the close.
Although the British pound briefly gained to a 1-week high of 1.4005 in Asian morning, renewed selling interest emerged and cable later fell to +session lows of 1.3864 in New York on usd's strength as well as cross-selling in sterling before rebounding to 1.3935 on short-covering.
Data to be released this week :
Japan machinery orders, tertiary industry activity, UK Rightmove house price, China house prices, industrial output, retail sales, Canada housing starts, manufacturing sales, and U.S. NY Fed manufacturing index on Monday.
New Zealand Wesptac consumer survey, GDT price index, Australia house price index, Japan industrial output, capacity utilization, industrial output, Germany wholesale price index, ZEW economic sentiment, ZEW current conditions, France CPI (EU norm), CPI, Italy CPI, CPI (EU norm), EU ZEW survey expectation, and U.S. import prices, export prices, retail sales, retail sales ex-autos, industrial production, capacity utilization, manufacturing output, redbook, business inventories, NAHB housing market index on Tuesday.
New Zealand current account, Japan exports, imports, trade balance, Australia leading index, EU construction output, HICP, core HICP, U.S. MBA mortgage applications, building permits, housing starts, Fed interest rate decision, and Canada CPI, core CPI on Wednesday.
New Zealand GDP, Australia employment change, unemployment rate, Swiss trade balance, exports, imports, producer and import price, Italy trade balance, EU trade balance, labour costs, UK BoE interest rate decision, asset purchase program, BoE QE total, BoE QE corporate bond purchases, BoE MPC vote hike, BoE MPC vote unchanged, BoE MPC vote cut, U.S. initial jobless claims, continued jobless claims, Philadelphia Fed manufacturing index, leading index change, and Canada ADP employment change, new housing price index on Thursday.
Japan nationwide core CPI, nationwide CPI, UK GfK consumer confidence, PSNB, PSNCR, Australia retail sales, Japan BoJ interest rate decision, Germany producer prices, and Canada retail sales, retail sales ex-autos on Friday.
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