Opening Bell: US Futures, Stocks Pause; Treasuries, Dollar Slide | investing.com – Investing.com
- Date: 09-Jun-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Opening Bell: US Futures, Stocks Pause; Treasuries, Dollar Slide | investing.com – Investing.com
Global stocks hover around record highs
Yields and dollar weaker
Bitcoin rallies
Key Events
Falling yields dragged the dollar lower ahead of tomorrow's US report, a possible leading indicator on the path of interest rates. Futures on the , , and wavered in pre-US open trading on Wednesday as markets tread water ahead of the key economic indicator.
Oil demand improves, pushing prices nearer to 3-year highs.
Global Financial AffairsUS futures and European stocks, including the were in a holding pattern, with traders fingers hovering above order buttons.
Yields on the Treasury fell sharply toward the 1.5% mark.
A report showing rising inflation may be the last straw before rates complete a bearish pattern—a Descending Triangle, whose implied implication is a drop of 30 basis points to retest 1.20%.
The fell on pessimism, as traders watched falling yields scream rising inflation, which would weaken the American currency's buying power. Although the Fed is holding firm on tightening its accommodative monetary strategy, some commentators continue to argue that the US central bank is, in fact, signaling—albeit slowly—that it's headed toward tapering.
The chart projects this fork-in-the-road.
Dollar Index Daily
The dollar has been struggling to rise