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The Dollar Index answers to the Treasury, not the Fed
The Dollar Index closed Wednesday 0.86% lower just beneath 98.80, its weakest close since mid-May, and it closed on the session low. The document that did the damage was not a central bank document.
Wed, Aug 19
Silver Price Forecast: XAG/USD eyes $67 as US yields slide
Silver price reversed its course on Wednesday and soared over 5% as US Treasury yields edged lower, as the US Treasury stepped in to cap long-end US bond yields, which had reached levels last seen in 2007. The XAG/USD traded at $66.68m after bouncing off daily lows of $62.19.
Wed, Aug 19
Crypto investors may be underestimating the next wave of growth — Bitwise
Crypto investors may be underestimating the scale of the industry’s next growth phase by relying too heavily on current market conditions, according to Bitwise CIO Matt Hougan.
Wed, Aug 19
Euro surges as traders ignore Fed’s hawkish minutes
The shared currency gained over 0.85% during the North American session on Wednesday, even though the latest Federal Reserve minutes had a “hawkish” tone, with some participants, along with the three dissenters, suggesting that raising rates could be necessary if the disinflation process stalls.
Wed, Aug 19
Crypto liquidations near $2 billion as US Treasury debt buyback sparks short squeeze
The cryptocurrency market has seen nearly $2 billion in liquidations over the past 24 hours, its largest since February 5.
Wed, Aug 19
Forex Today: US Dollar sinks on Treasury buyback ahead of data-heavy Thursday
The US Dollar Index (DXY) sold off broadly on Wednesday, sinking below the 99.00s region and holding well under 100.00.
Wed, Aug 19
Silver surges as Treasury buyback plan sinks the US Dollar
Silver (XAG/USD) trades sharply higher on Wednesday, changing hands near $65.80. The metal is riding a broad rally across precious metals with Gold (XAU/USD) soaring toward $4,500.
Wed, Aug 19
USD/CHF Price Forecast: 100-day SMA tested as US Dollar tanks
The USD/CHF tumbles nearly 2% on Wednesday as a US Treasury announcement of a buyback sent the Greenback into a tailspin, as US Treasury yields also dive. The pair trades at 0.7979 after reaching a high of 0.8128.
Wed, Aug 19
AUD/USD Price Forecast: Positive momentum points to further upside
AUD/USD holds firm near a two-and-a-half-month high on Wednesday, supported by broad US Dollar (USD) weakness, while technical indicators point to further upside. At the time of writing, the pair trades around 0.7118, up 0.43% on the day, after reaching an intraday high of 0.7129.
Wed, Aug 19
United States 20-Year Bond Auction: 5.204% vs 5.163%
Wed, Aug 19
Mexican Peso rallies to two-year high on US Treasury buyback
The Mexican Peso rallies to a two-year high of 16.94 as the US Dollar weakens amid falling US yields, which retreated after the US Treasury doubled the size of its long-duration bond buyback. The USD/MXN trades at 16.95, down 0.27%.
Wed, Aug 19
WTI Oil climbs as US-Iran standoff keeps Middle East supply risks elevated
West Texas Intermediate (WTI) Oil reaches its highest level in more than three weeks on Wednesday as supply risks in the Middle East continue to underpin prices. At the time of writing, the US benchmark trades around $85.20 per barrel, up nearly 1% on the day.
Wed, Aug 19
New Zealand Dollar jumps as falling US yields weigh on the USD
NZD/USD rises sharply on Wednesday and trades around 0.5930 at the time of writing, up 0.96% on the day. The New Zealand Dollar (NZD) benefits primarily from broad weakness in the US Dollar (USD), as the sharp decline in US Treasury yields reduces the appeal of the Greenback.
Wed, Aug 19
Gold soars toward $4,500 as Treasury buyback sinks US yields
Gold (XAU/USD) skyrockets on Wednesday as the Greenback edges lower amid falling US bond yields, driven by the US Treasury's buyback of long-dated bonds. At the time of writing, the XAU/USD pair trades at $4,495, up by over 3.70% in the day and at its highest level since June 4.
Wed, Aug 19
Dow Jones Industrial Average rallies on a bid nobody made
The Dow Jones Industrial Average trades near 53,600 on Wednesday, more than 230 points and 0.44% higher, and none of that gain is about earnings, growth or the Federal Reserve.
Wed, Aug 19
EUR/GBP pushes toward two-week high amid cooling UK services inflation
EUR/GBP trades on the front foot on Wednesday, pushing up to the vicinity of a two-week high near the 0.8570 region as the Euro holds firm against a softer British Pound (GBP). The pair has cleared its recent range after a run of green candles on the 4-hour chart.
Wed, Aug 19
Russia Producer Price Index (YoY) fell from previous 10.5% to 6.6% in July
Wed, Aug 19
Bitcoin vs Gold Forecast: BTC, XAU extend gains despite escalating Middle East tensions
Bitcoin (BTC) and Gold (XAU/USD) are broadly rising on Wednesday, with BTC hovering near $65,000 and XAU gaining momentum near its immediate $4,500 hurdle.
Wed, Aug 19
Indonesian Rupiah: BI holds rates to back IDR – BNY
Geoff Yu writes that Bank Indonesia (BI) kept its benchmark rate at 5.75% for a second month in Acting Governor Destry Damayanti’s first decision.
Wed, Aug 19
British Pound jumps as Treasury buyback weakens the US Dollar
The Pound Sterling climbs against the Greenback on Wednesday as the US Treasury stepped up in the markets to offer liquidity support via a buyback of longer-dated bonds, a day after the US 30-year yield hit its highest level since 2007.
Wed, Aug 19
