What you need to know on Tuesday, January 4:

The greenback is the best performer on Monday, appreciating against all of its major rivals on the back of soaring US government bond yields. The yield on the 10-year US Treasury note kick-started the day at 1.53%, jumping to 1.635% mid-US afternoon, holding nearby as the day comes to an end.

Coronavirus-related concerns dampened the market’s mood as the Omicron variant is indeed a tsunami of contagions as the WHO anticipated a couple of weeks ago, affecting not only the northern hemisphere. So far, governments have avoided imposing restrictions, but the situation may worsen if the health systems begin to stress.

US stock advanced despite the dismal mood, with the DJIA adding over 100 points.

The EUR/USD pair trades a few pips below the 1.1300 level, while GBP/US lost the 1.3500 threshold. Commodity-linked currencies edged lower vs the greenback, with AUD/USD trading around 0.7190 and USD/CAD currently at 1.2754.

The dollar appreciated even against safe-haven assets, with USD/JPY trading above 115.00.

Gold plunged to 1,798.29, ending the day at around $1,802. Crude oil prices were little changed on a daily basis, recovering from an intraday dip. WTI settled at around $76.00 a barrel.

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This article was originally published by Fxstreet.com.Read the original article here.

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