Forex Today: Yields and stocks advance, dollar mixed
What you need to know on Tuesday, December 7:
The dollar ends Monday mixed as speculative interest aims to digest the latest developments. On Friday, the US published the Nonfarm Payrolls report, which showed the country added just 210K new jobs in November, missing the market’s expectations, and putting at doubt further aggressive tapering in the US.
Generally speaking, the greenback followed the lead of US government bond yields. The 10-year Treasury note started the day yielding 1.37%, later jumping to 1.44% in the American afternoon.
Regarding the Omicron coronavirus variant, reports hint at community transmission in several countries, although, at the same time, there are no deaths related to the variant so far, which lift hopes of a milder illness that will prevent lockdowns and restrictions, and hence, avoid an economic slowdown.
The EUR was among the weakest dollar’s rivals, down to 1.1265 vs the greenback. Other high-yielding currencies posted modest gains, with commodity-linked currencies gaining the most. The JPY and the CHF lost some ground, although all major pairs held within familiar levels. A scarce macroeconomic calendar helped to maintain volatility low.
Gold edged marginally lower, with spot ending the day at $1,778 a troy ounce. Crude oil prices, on the other hand, advanced alongside equities with WTI settling at $69.70 a barrel.
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Author
Valeria Bednarik
FXStreet
Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.
