Treasury yields and greenback retreat after Fed's 75 bps hike
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The Federal Reserve has increased interest rates by 75 basis points, the highest since November 1994. As a result, both Treasury yields and the greenback have retreated, with the United States 10-Year Bond Yield closing at 3.395%, and followed by a low of 3.29%. Meanwhile, US retail sales underperformed with a 0.3% decrease against a 0.2% growth forecast, hinting at a recession that may come after the mega rate hike.
EUR/USD rose to 1.0443, then spiked from 1.0375 to 1.0475 with minor oscillation, investors expect tomorrow's (17 June) Eurozone CPI reading to maintain at 8.1%. GBP/USD has a closing price of 1.2178, currently trading at 1.2175 level. Also on tomorrow, the latest Bank of England Interest Rate had a prediction of bumping 25 basis points to 1.25%.
News on Australian Employment Change in May probably brought optimism among investors, since 60,600 people are joining the workforce, against the original forecast of 25,000. The Aussie greenback pair climbed to 0.7002 and just reached 0.7022. USD/CAD took a dive, went below 1.2900 and closed at 1.289.
A weakened dollar drove up gold futures, first closed at 1,819.6, then briefly went above 1,843, now trading flat at 1,834. Amongst fears of recession. US Crude Oil Inventories managed to restock 1.956 million barrels of crude oil, when most believed it would decline by 1.314 million barrels. Oil prices briefly returned to 115 a barrel, but soon recovered to 116.44.
More information on Mitrade website.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
XAU 🔼
WTI 🔽
The Federal Reserve has increased interest rates by 75 basis points, the highest since November 1994. As a result, both Treasury yields and the greenback have retreated, with the United States 10-Year Bond Yield closing at 3.395%, and followed by a low of 3.29%. Meanwhile, US retail sales underperformed with a 0.3% decrease against a 0.2% growth forecast, hinting at a recession that may come after the mega rate hike.
EUR/USD rose to 1.0443, then spiked from 1.0375 to 1.0475 with minor oscillation, investors expect tomorrow's (17 June) Eurozone CPI reading to maintain at 8.1%. GBP/USD has a closing price of 1.2178, currently trading at 1.2175 level. Also on tomorrow, the latest Bank of England Interest Rate had a prediction of bumping 25 basis points to 1.25%.
News on Australian Employment Change in May probably brought optimism among investors, since 60,600 people are joining the workforce, against the original forecast of 25,000. The Aussie greenback pair climbed to 0.7002 and just reached 0.7022. USD/CAD took a dive, went below 1.2900 and closed at 1.289.
A weakened dollar drove up gold futures, first closed at 1,819.6, then briefly went above 1,843, now trading flat at 1,834. Amongst fears of recession. US Crude Oil Inventories managed to restock 1.956 million barrels of crude oil, when most believed it would decline by 1.314 million barrels. Oil prices briefly returned to 115 a barrel, but soon recovered to 116.44.
More information on Mitrade website.