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After the calm in the Middle East, the global dollar falls

After the calm in the Middle East, the global dollar falls

He gold and the dollar They retreat from near their highs on Monday, and crude oil prices decline as the possibility of a major supply disruption diminishes. In Uruguay, Meanwhile, the exchange rate rose 0.33% compared to Thursday and closed at 38.506 pesos, according to the price of the Central Bank of Uruguay (BCU).

The futures of US stocks They rose 0.31%, after the S&P 500 fell 0.88% on Friday. Bond yields — which rise when prices fall — rose again toward multi-month highs. The yield on 10-year US Treasury bonds appreciated 4 basis points to 4.656%, again approaching the five-month high of 4.696% reached last week, on the view that the Federal Reserve would be in no rush to ease monetary policy amid strong economic data and stagnant inflation.

He dollar index, which measures the currency against six major currencies, fell 0.05%, to 106.05 points. Last week it stood at 106.51, the highest level in five months. Gold fell 0.95% to $2,367.75, falling from the all-time high of $2,431.29 reached last week.

Dollar in Uruguay

Meanwhile in Uruguay There is a business holiday and the markets are not functioning normally, it is expected that the US exchange rate continues to recover after Friday’s rebound of 0.33%.

On the reference board of the Republic Bank (BROU)he dollar Retail ticket was offered at 37.25 pesos for purchase and 39.85 pesos for sale. For its part, the preferential value of eBROU dollar It was at 37.75 pesos for purchase and at 39.35 pesos for sale.

With this improvement, the banknote recovered ground at the close of a negative week, where it fell 0.73% and once again set off the alarms about the exchange delay. Anyway, the dollar accumulated growth so far this month of 2.54% and, if compared to the end of 2023, the depreciation of the US currency is 1.32%.

The calm of the Middle East favors the Asian market

The asian bags recover some of their losses this Monday and bond yields rise as fears of a broader conflict in Middle Eastwith investors gravitating back toward riskier assets.

Iran declared Friday that it did not plan to retaliate following an apparent Israeli drone attack within its borders, which, in turn, followed an unprecedented Iranian missile and drone attack on Israel days earlier.

He MSCI index Asia-Pacific shares rose 0.83% in the early morning, recovering part of Friday’s 1.8% drop, after news of the Israeli attack. Pan-European STOXX 650 index futures added 0.33%, and FTSE futures advanced 0.8%.

“It seems that neither Israel nor Iran “They want an escalation of the crisis in the Middle East… and since it doesn’t look like an attack is coming from either side, investor concerns have eased a bit,” said Kazuo Kamitani, a strategist at Nomura Securities.

However, Kamitani said expectations of further interest rate cuts from the Federal Reserve and concerns about chip sector profits will continue to keep investors on their toes. The MSCI global equity index suffered its worst week since March 2023 last week, with a fall of 2.85%.

Source: Ambito

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