Investors' profit-taking hit the US dollar; focus shifts to non-farm payrolls.
Last Friday, the US dollar index continued to decline and ultimately closed down 0.31% at 108.92. However, due to market expectations that the US economy will continue to perform better than other major economies this year and that US interest rates will remain relatively high, the US dollar index still achieved its strongest weekly performance in nearly three weeks. The benchmark 10-year US Treasury yield closed at 4.6020%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.2870%. On January 6th Beijing time, spot gold traded around 2639.80, as the market prepared for possible economic and trade changes under US President elect Trump's administration. US crude oil traded around $74.15 per barrel, with oil prices benefiting from cold weather in Europe and the US, as well as hopes of more economic stimulus measures from major Asian countries. Meanwhile, the market awaited this week's US non farm payroll data.
US CPI release: a bullish chance for the dollar
Oil in a bear hug, despite the rebound
China is still exporting deflation
EBC Markets Briefing | Yen not shaken by lower growth projection
Dollar safe-haven pedigree to be tested if risk appetite turns sour
Gold Weakens Amid Improved Risk Appetite
EBC Markets Briefing | Gold prices may stay put for the time being
