Forex Today: Yields´ comeback may push the dollar to fresh highs


What you need to know on Tuesday, March 30:

Risk-off dominated Monday, leading to modest dollar gains. The greenback advanced within limited ranges against most major rivals.  Investors are cautious at the start of the week amid news that a hedge fund that had significant positions in different firms was forced to liquidate late on Friday. Credit Suisse and Nomura reported significant losses as a result of the $20 billion block-sale.

Another point of concern is US President Joe Biden’s spending plan, which may include $1 trillion in new tax hikes. Major indexes in Europe and the US were under pressure, ending the day mixed.  Meanwhile, US Treasury yields resumed their advances. The yield on the 10-year Treasury note hit 1.72%, its highest in over a week.

The EUR/USD pair set a fresh 2021 low of 1.1760, ending the day a handful of pips above the level. GBP/USD finished the day unchanged around 1.3770 after an early advance. The pound is still resilient to the dollar’s demand, partially underpinned by UK’s reopening as the coronavirus situation continues to improve.

Gold prices edged lower, undermined by rising US Treasury yields favoring the greenback. Crude oil prices advanced modestly after the Suez channel was finally freed.

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Visa supports cryptocurrency transactions

S&P 500 Update: Equities struggle as Archegos rattles investors but Suez opens back up

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD struggles to retain the 1.2000 threshold

The EUR/USD pair is at the lower end of its latest range, hovering around 1.2000. Data imbalances between the EU and the US starting to take their toll on the pair. Focus shifts to US data ahead of the NFP report.

EUR/USD News

GBP/USD trades around 1.39 amid political tensions

GBP/USD is trading around 1.39 as uncertainty about Britain's local and regional elections joins fresh Brexit tensions to weigh on the pound. US data is eyed later in the day.

GBP/USD News

VET consolidates before it launches an 80% rally

Vechain price is in preparation for an 80% gain from the current price as VET pursues the measured move target of a multi-year cup-with-handle base at $0.377.

Read more

Gold: Choppy conditions at critical levels

Gold is trapped on the daily time frame and traders are looking for a confirmation bias.  The bulls are watching for a break of monthly resistance to confirm their bias. Bears are yet to fully test the weekly support structure. 

Gold News

Are investors about to be burned by recency bias?

Are investors about to be burned by the recency bias? That’s the argument of Chris Cole of Artemis Capital in a very interesting Odd Lots podcast with Tracy Alloway.

Read more

Forex MAJORS

Cryptocurrencies

Signatures