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Barchart
Barchart
Rich Asplund

Dollar Strengthens on Higher Bond Yields and Weak Stocks

United States ECB Middle East Wall Street Journal

The dollar index (DXY00) on Wednesday rose by +0.24%.  The dollar moved higher after better-than-expected U.S. Sep new home sales pushed T-note yields higher.  Also, the weakness in stocks on Wednesday sparked some liquidity demand for the dollar. In addition, ramped-up geopolitical risks in the Middle East boosted safe-haven demand for gold after the Wall Street Journal reported Israel was delaying its ground invasion of Gaza to give the U.S. time to bolster its air defenses in the region.   

U.S. Sep new home sales rose +12.3% m/m to a 20-month high of 759,000, stronger than expectations of 680,000.

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