Dollar Index Ticked Up and Equities Rallying on Optimism as FED Shuns Down Speculations
The dollar index and treasuring on a upward tick pressuring down its G-10 pairs, optimism from Asian equities to spillover to U.S. equities overnight
The dollar index and treasuring on a upward tick pressuring down its G-10 pairs, optimism from Asian equities to spillover to U.S. equities overnight
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The U.S. dollar and treasuries ticked up after Federal Reserve (FED) shunned market worries on interest rate hikes amid risk of further elevating inflation and slowing down economic growth.
The dollar index (DXY) ticked up on Wednesday at 94.248 inching up by 0.43% against it group of 10 pairs except Japanese Yen and pushing down the Euro.
Thai baht again came under pressure inching up by 0.3695% to 33.4200.
The 10-year U.S. yield shared four basis points and equites in the Asian and Europe rallied on FED’s clear direction. Ripple effect from the Asian and European markets spurred over in the U.S. with Nasdaq 100 edging up by 0.40%.
Asian bourses closed on a higher note, KOSPI closing up by 0.25%, CSI 300 up by 0.99%, HSI up by 0.80%, SET 0.89% and Nikkei 225 0.93%.
Ahead of OPEC+ meeting later on Friday oil took a reverse turn than in the morning with WTI crude oil inching up by 1.21% to $81.84 and Brent crude oil inching up by 1.48% by $83.20.