Abstract:On Wednesday (May 29th), the US dollar index rebounded for the second consecutive trading day, rising above the 105 level and ultimately closing up 0.487% at 105.14.
On Wednesday (May 29th), the US dollar index rebounded for the second consecutive trading day, rising above the 105 level and ultimately closing up 0.487% at 105.14. On Wednesday, the US $44 billion seven-year bond auction was still weak. In addition to the poor demand of the previous two-year and five-year treasury bond bond auctions, the US bonds suffered a wave of selling, and most of the yields rose. The 10-year US bond yield finally closed at 4.619%, a new high since the beginning of this month. The yield on the 2-year US Treasury, which is most sensitive to the Federal Reserve's policy interest rates, once hit the 5% mark and ultimately closed at 4.981%.
On Wednesday (May 29), the gold price fell nearly 1% to close at 2337.88/ounce. The dollar strengthened to a two-week high, the US treasury bond bond yield rose to a four week high, and the hawkish speech of the Federal Reserve officials hit the market sentiment. The market focus is shifting towards the release of US inflation data later this week. Technically, there is a risk that gold prices will fall below the $2,300 mark in the future.
International crude oil ended three consecutive daily gains on Wednesday (May 29) as the rise in US Treasury yields comprehensively hit market risk appetite, dragging down oil prices. WTI crude oil continued to decline during the European session, falling below the 80 mark and ultimately closing down 1.22% at $79.24 per barrel; Brent crude oil closed down 1.12% at $83.32 per barrel.