Oil held onto the previous day’s drop as macroeconomic concerns overshadowed physical market tightness to cloud the demand outlook. West Texas Intermediate traded near $89 a barrel after declining by 2.2% in the previous session. A global rout in sovereign bonds and shares extended into Tuesday, while the dollar strengthened as traders digested messaging that the Federal Reserve will need to…
The euro, pound and yen all traded at multi-month lows on Tuesday, with the Japanese currency on the brink of weakening past the psychological 150 per dollar level, as surging U.S. Treasury yields kept the dollar firmly on the front foot. The euro was steady on the day at $1.0477, still around its weakest since…
Gold extended its rout to the lowest level in almost seven months amid hawkish signals on rates from the Federal Reserve and after a tumble in Treasuries intensified, pushing up yields. The plunge in bullion is relentless with the metal heading for a seventh straight day of declines, the longest losing streak since 2018. Benchmark US…
