Forex Today: A quiet upbeat weekly start, DXY not benefiting from yields – by MSalordFX DollarIndex YieldCurve Currencies USDCAD
After a quiet beginning of the week, market participants will continue to evaluate the consequences for the economy of the banking crisis. Keydue on Asian hours include Australian Retail Sales, ahead of Wednesday’s CPI and next week’s RBA meeting.
Markets showed some relief on Monday following the latest banking news, which led to a rebound in bank stocks. The Dow Jones gained 194 points or 0.60%, while the Nasdaq dropped by 0.46%. The VIX continued to trend lower, and Crude Oil jumped by more than 5%. Deutsche shares rebounded and First Citizens Bancshares agreed to buy parts of Silicon Valley Bank .lost ground on Monday and dropped below 103.00 even as US yields rose . The US 10-year Treasury bond yield rose toward 3.
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