Global stocks close in the green; bonds and dollar fall

Investors concentrated on global economic strength dwelling upon the possibility of a monetary policy tightening as they waited for signs that the European Central Bank would buy fewer bonds.

Dow Jones Industrial (DJI) went higher by 160.16 points, or 0.7 percent, to 23,157.6. The S&P (SPX) rose 1.9 points, equivalent to 0.07 percent, to 2,561.26; the NASDAQ Composite (IXIC) gained 0.56 points, or 0.01 percent, closing at 6,624.22. MSCI global gauge of stocks rose by 0.15 percent.

Benchmark ten year notes (US10YT=RR) last reduced 12/32 in price to yield 2.3411 percent. Meanwhile the thirty year bond (US30YT=RR) last decreased 29/32 in price to gain 2.8483 percent, from 2.803 percent late on Tuesday.

The dollar index (DXY) tumbled by 0.08 percent. The euro (EUR) rose 0.22 percent to $1.1792. The dollar index may have encountered a technical resistance at around 93.80 level which could have hindered the currency’s rise at least temporarily.

U.S crude CLcv1 gained 0.31 percent to $52.04 a barrel while Brent LCOcv1 was last traded at $58.20 after rising by 0.55 percent.

Gold fell for the third straight session as investors chose the riskier bets. Stop Gold (XAU) decreased 0.3 percent to $1,280.90 an ounce.

Oil price increases keeps ruble stable in opposition to a buoyant dollar

Ruble experienced little changed on Tuesday with the positive impact of local tax payments and higher oil prices counteracting downward pressure from a generally firmer dollar.

The dollar was backed up by an increase in Treasury yields after a report that U.S. president Trump was preferring a policy hawk as the next head of the Federal Reserve.

Ruble was 0.05 percent stronger in contrast to the dollar at 57.29 at 07:50 GMT, a day after hitting its highest since early September at 56.99. Ruble increased 0.26 percent to 67.42 against the euro.

The ruble maintained support from gains in oil prices. Brent crude hit a 0.5 percent at $58.1 per barrel, a general benchmark for Russia’s main export. Ruble was also improved by local tax payments.

VTB capital analysts stated in note that ruble was expected to float in a range of 57.2 to 58.5 versus the dollar.

The Russian stock indices fell after firmly climbing higher since mid-August. The dollar-denominated RTS index hit a low 0.3 percent to 1,154.5 points following its highest since late February a day before.

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