What you need to know on Friday, May 21:
The dollar returned the ground it gained after the FOMC Minutes, ending Thursday down against all of its major rivals. Government bond yields fell as investors took in the latest announcement from the Federal Reserve. The yield on the benchmark 10-year Treasury bond fell to 1.627% after flirting with the 1.70% level on Wednesday.
Stocks globally traded higher, with all European and US indices closing higher and weighing on the dollar. US tech stocks led the dollar’s recovery, following an encouraging job-related report that showed jobless claims continued to decline.
EUR / USD and GBP / USD trimmed post-FOMC losses and approached monthly highs set earlier this week. Commodity-linked currencies also advanced, despite poor performance for gold and oil. The shiny metal was unable to hold onto intraday gains and ended the day at around $ 1,876 a troy ounce. Crude oil prices fell to new weekly lows, and the WTI closed the day at $ 62.10 a barrel.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
