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Dollar remains unchanged as low U.S. yields offset solid macro-economic data

The dollar performed flat and remained unchanged against the basket of currencies in the previous session as low U.S. bond yields offset in-line data on domestic jobless claims and home prices which remained close to the one-month peak reached earlier this week

The Yen gained some safe-haven demand because of early weakness that was seen in Wall Street and the European stock markets.

The dollar was seen trading better as several Fed Officials since last week have supported the concept of another rate increase by the end of the year. The little gains that the dollar got later subsided as doubts crept in as to whether the modest current economic expansion warrants further rate increases.

The dollar index, which tracks the dollar against six major currencies, remained flat at 97.571. It reached a one-month high of 97.871 last Tuesday.

The yen closed 0.2 percent higher against the euro at 124.10 yen, with the pan-European STOXX 600 ending the daily session unchanged.

Global Stocks takes bullish step as Oil prices rebounded from a bearish session

The world stock markets were all in better positions in the session as thanks to a modest rebound in the price of oil after hitting a staggering 10 month low, while the U.S. yield curve managed to slow down its recent flat performance.

Oil benchmark Brent inched up from its low point when the U.S. crude hit its lowest intraday level since August 2016, but sentiments remained negative as oversupply persisted despite the OPEC cuts.

U.S. crude settled up 0.5 percent at $42.47 per barrel and Brent settled up 0.9 percent at $45.22 on the day.

With the oil markets trading in better positions, the DJIA average fell by 12.74 or 0.6 percent.

Nasdaq Composite did better after it added 2.73 points or 0.4 percent in its value.

* The details mentioned above have been partially adopted from third party sources, including websites, and are displayed “AS-IS” Readers should take into account that all the data that appear in this review can change based on the dynamic of global markets. The information provided by the review ought not to be considered as advice or financial guidance nor can it relate to any investor’s personal requirements or investment goals. In addition, the data should not be conceived as any kind of recommendation to trade and / or carry out a transaction and / or deposit funds.