Dollar ending soft in US close - ANZ

Ross J Burland FXStreet

Analysts at ANZ's market wrap in a snapshot ...

Key Quotes:

"Global equities were sold, the USD remained on the back foot, yields were lower, and commodities (ex-gold) dropped. European bourses led losses, with DAX down 1.7%, CAC 40 off 1.6%, and Euro Stoxx 50 down 1.4%. Declines were across all industries.

Falls were more modest in the US, with major bourses 0.0%-0.2% lower. Energy stocks weighed as oil fell around 21⁄2%. OPEC crude supply this month is expected to be the highest since December, according to a tanker-tracking firm.

Treasury yields declined 1-2bps across the curve while European yields were also generally lower. In currencies, AUD was able to hold the 0.79 handle, although it underperformed in the G10. JPY is now close to testing 111, CAD comfortably broke through 1.26, EUR is closing in on 1.17, and NZD starts the week above 0.7450. Gold rose above $1250/oz."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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