Market Updates at a Glance 26/4/22 (Tuesday)
☛The US Dollar Remains Underpinned by Rising Interest Rate Expectations.
➤U.S stocks ended higher led by the tech shares as Musk Buys Twitter. Twitter releases earnings on Thursday, VIX (fear index) closed at 27. Dow +0.7%, S&P 500 +0.57%& Nasdaq +1.29%.
➤The US dollar index extended the gain to $101.73 (+0.6%) while the 10-year treasury yield retreated to 2.82% from its recent high 2.98%.
➤GBP & EUR fell for the third consecutive session amid the strong greenback, with GBP dipped to 1.2741 (-0.78%) and EUR tumbled to 1.0712 (-0.82%).
➤Oil (Brent) & Gold were lower on Monday, with oil closed slightly above $100 (near the lower trendline of the triangle pattern) as demand concerns on probable new lockdowns in China. While Gold fell below $1900 retreated from its last week's high of $2,000 as market expected a 50 basis point rate hike in the next FoMC meeting in May 2022.
➤BTC rebounded and closed above $40,000, while XRP trading around 0.7000.
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