Economic and fundamental developments 08-02-2022 US session

8 Feb 2022 05:01 PM
  • The US dollar edges higher against a basket of currencies ahead of US inflation data on Thursday. US bond yields rose as the 10-year bond yield edged towards 1.96%.
  • Gold prices managed to rise, benefiting from higher inflation expectations and geopolitical tensions between Russia and Ukraine. Oil prices in the meantime fell more than 2% amid US-Iranian talks aimed at reviving the nuclear deal.
  • European stock indices traded higher, as did US stock contracts. Shares of the oil and mining sector companies supported the stock indices after the oil giant BP announced annual profits of 12.8 billion dollars.
  • The euro fell against the US dollar during the European session today, responding to the statements of European Central Bank President Christine Lagarde on Monday, when she indicated that "there is no need for the moment to tighten monetary policy."

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