The Norwegian Krone led commodity FX gains amid higher oil prices while an undecided German election left the Euro adrift. Will energy prices continue building?
Natural gas prices continue to race higher as global supply continues to lag well behind demand. Current month futures briefly traded above $6.00 mmBtu.
Rising US Treasury yields weigh on the equity market, with tech and growth companies bearing the brunt of the sell-off as traders rotate out of high-flying stocks with elevated valuations.
EUR/USD may continue to defend the yearly low (1.1664) as the update to the Euro Area Consumer Price Index (CPI) is anticipated to show a pickup in inflation.
The Australian Dollar faces a tough ride higher after Treasury yields surged last week. Monday’s APAC session will put focus on Chinese industrial profits. A bright figure may help AUD/USD.
Lack of momentum to climb back above the 50-Day SMA (0.7321) may push AUD/USD towards the monthly low (0.7220) amid the deviating paths between the RBA and FOMC.
US Consumer Confidence at Lowest Level Since February 2021. USD Unfazed
Brent crude is now trading at highs last seen nearly three years ago as demand continues to soar.
Energy shortages, rising price expectations and higher yields weigh on global stocks
GBP/USD Slides as US Dollar Extends Rally. Hawkish BoE Pricing Leaves GBP Vulnerable to Breakdown
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