Yields Find Support

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This post was originally published on Trademakers

courtesy of trademakers

Last week was quieter than normal on the economic data side. The main focus remained Yields and the US Dollar.

The Dollar was slightly lower on the week with the DXY down by just shy of 0.5%. Mixed economic data is not giving the US Dollar any way to gain traction at the moment especially with the leading economic indicators persisting in giving warning signs over the economy.

The Euro had a positive week. The single currency is still in the doldrums. With improved economic data released last week in the form of improving Manufacturing PMI the Euro still failed to make headway.

GBP suffered a similar week but did close the week more improved than the Euro. The GBP gained 1% as UK PMI printed in an expansionary way.

Commodity currencies continued for a second week in strong form despite oil falling and Yields having an up week from their recent lows. AUD gained 1% and NZD gained 1.5%.

Oil continued to slide as market focus moves more towards the demand side than supply. The continued global economic outlook remains challenging, and the view is demand is more likely to decrease. WTI fell 1.2%.

The week ahead we have more economic releases. US Core PCE, which is the inflationary measure, is out along with US GDP. We also have further CPI and PMI data from around the world.

Weekly Majors Market Performance

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