The performance of the US dollar continues to be weak Gold rose to a new high and then fell back for consolidation

On Tuesday (March 5th), the US dollar index fluctuated and rose in the Asian and European markets, approaching the integer level of 104. However, due to the lower than expected US PMI data for February, the US dollar index experienced a “high diving” and ultimately closed down 0.052% at 103.78. The yield of US Treasury bonds opened high and closed low, with the benchmark 10-year Treasury yield closing at 4.152% and the 2-year Treasury yield, which is most sensitive to Federal Reserve policy rates, closing at 4.562%.

On Tuesday (February 5th), spot gold rose and fell, reaching a peak of $2,141.66 per ounce during trading, just $3 away from the historical high of $2,144.68 per ounce set in December last year. The current price has fallen to $2,127.18 per ounce, an increase of 0.61%.

Oil prices fell nearly 1% on Tuesday (March 5th) due to market skepticism about whether major Asian countries can achieve their economic growth targets, leading to a decrease in investor risk appetite. On this trading day, the market will pay attention to the testimony of Federal Reserve Chairman Powell in the Senate. In addition, the EIA crude oil inventory series report and the “small non farm” US ADP employment data are also the focus of market attention.

Affected by weak demand, WTI crude oil fluctuated and fell for two consecutive trading days, ultimately closing 0.76% lower at $78.26 per barrel; Brent crude oil closed 0.04% lower at $82.72 per barrel.