Let’s see what’s making headlines in the financial markets today.
Forex today was tracking yields sending the US dollar higher, while commodities and equities suffered, as market actually rethinks the reflation trade.
The two-year US Treasury yield hit fresh 9-year high and the 10-year yield moved above 3 percent as higher oil prices fanned inflation expectations. Their Jobless Claims data came out higher than expected while more significant Philly Fed Index surpassed estimates for the month of April at 23.2.
Meanwhile, was a good day for importers billed in the Aussie and Kiwi. They both lost some footing, and pretty much mimicked each other. They still riding on the economic releases from yesterday.
Otherwise, it was mainly a quiet day.