At the time of secon full-market day Traders remain cautious as the US policymakers praised Fed hawks as they tighten the belt to tame inflation. The risk appetite, however, appears mixed as the US Treasury yields stay firmer but the equities refrain from further downside.
Addtionally, US Dollar stretches the previous days rebound amid hopes of faster Fed rate hikes with eyes on US ISM Manufacturing PMI and further Fedspeak.
Gold prices had taken the burden of the market‘s indecision and firmer USD to refresh a fortnight's low. Alternatively, Brent oil consolidates the biggest daily fall in three weeks as geopolitical concerns join Russia’s likely relief to observe OPEC guidelines, at least for now, as well as geopolitical concerns challenging the energy supplies.
AUDUSD moves better-than-expected Aussie Q1 GDP while USDJPY rose the most among the G10 currency pairs amid firmer US bond coupons and a strong greenback. While somewhere, cryptocurrencies remain pressured as traders doubt the demand side pulls amid looming fears of regulations and the markets cautious sentiment.
Following is the list of major assets latest performances:
• Brent oil resumes its run-up towards two-month high, up 1.10% around $117.50.
• Gold drops to two-week low as sellers attack $1,830 support.
• USD Index rises for the second consecutive day to regain 102.00 level.
• FTSE 100 and EUROSTOXX50 print mild gains whereas DAX rises 0.30% by the press time.
• Dow Jones and S&P 500 both dropped around 0.60% while Nasdaq slipped 0.41% on Monday.
• BTCUSD and ETHUSD both lose around 1.0% while struggling to defend $31,500 and $1,950 levels respectively.
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