US Dollar traces recently firmer odds of Fed’s 0.25% rate hike in May after upbeat US NFP.
Risk catalysts, US inflation and Fed Minutes eyed for clear directions.
WTI crude oil buyers struggle to keep the reins around $80.70 during early Monday as risk-aversion joins hawkish Fed bets to underpin the US Dollar rebound. However, challenges to Oil supplies, mainly emanating from China and OPEC , seem to keep the black gold buyers hopeful.
US Dollar Index (DXY) snaps a four-day downtrend around 102.25 even as the US Treasury bond yields fail to recover amid recession woes. That said, the US 10-year and two-year Treasury bond yields remain pressured near 3.37% and 3.95% respectively. In doing so, the benchmark bond coupons extend the previous day’s losses and portray the market’s rush toward the risk-safety amid economic slowdown fears.
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