2021-05-24 11:03:24
#Risk sentiment is generally mixed. Asian stocks and US equity futures made a steady start early Monday as traders weighed the volatile slump in cryptocurrencies and the inflation outlook. Stalling commodities boom remains in focus as China tries to temper prices. Market based gauges of inflation expectations have declined of late, though concerns linger that the post pandemic recovery could stoke price pressures and force a pullback in extraordinary central bank support. Global equities lost some steam and speculative ardor for riskier investments like Bitcoin has declined after a prolonged rally from pandemic lows. Investors are wary that policymakers may eventually curb stimulus. Some countries also still face Covid-19 spikes.
#DXY Wall street indices painted more of a mixed picture on Friday as much of the initial enthusiasm over upbeat PMI figures faded. Bitcoin’s slump sent crypto-related stocks plunging. Minutes of the Federal Reserve’s latest policy meeting showed that some policymakers are already comfortable discussing a tapering plan. S&P and Nasdaq modestly lower. USD will remain relatively unchanged for today as the new week begins. However, still overall a slightly more bearish outlook for the dollar as the inflation concerns remain valid.
#Gold Gold prices extend its rally, trading near 4-month highs, its longest winning streak since July 2020. Looking ahead, Gold prices continue to face bullish pressure, amid a weaker Dollar and falling Treasury yields. Last week’s data showed that US and Europe’s services sectors are picking up amid the global recovery, raising concerns that central banks could turn hawkish ahead of expectations. Gold prices could continue to climb higher, supported by concerns of rising inflation and expectations that the central banks could taper bond purchases ahead of expectations.
#CrudeOil #Oil WTI remains pressured, down by 0.23% intraday, around $63.70 per barrel, amid the early Monday Morning in Asia. Oil was on course for the largest weekly drop since March, although prices began to bounce back on Friday morning during the upbeat PMIs as optimism slowly returned to markets. The U.S. and Iran have sketched out the broad outlines of a deal to restore adherence to the 2015 nuclear agreement. Oil prices dropped by more than 2% on the news.
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