The US dollar has rebounded from a low level Gold is approaching a new historical milestone
On Monday (August 26th), due to rising geopolitical tensions, the US dollar index rebounded from an 8-month low and ultimately closed down 0.20% at 100.88, boosting market demand for safe haven curren
On Monday (August 26th), due to rising geopolitical tensions, the US dollar index rebounded from an 8-month low and ultimately closed down 0.20% at 100.88, boosting market demand for safe haven currencies. The benchmark 10-year US Treasury yield closed at 3.8180%; The two-year US Treasury yield, which is more sensitive to monetary policy, ultimately closed at 3.9440%.
Gold prices strengthened on Monday (August 26), approaching recent record highs, and rose to around $2526.74 per ounce during intraday trading, as the market increased its bets on a September rate cut following a dovish signal from Federal Reserve Chairman Powell. Additionally, geopolitical risks in the Middle East sparked a need for safe haven.
On Monday (August 26th), international oil prices surged due to the announcement by the eastern Libyan government that it would cease all oil production and exports. WTI crude oil ultimately closed up 2.92% at $77.10 per barrel; Brent crude oil returned to the $80 mark, ultimately closing up 2.77% at $81.24 per barrel.
