On Friday, strong U.S. non-farm payrolls data for April increased the Fed’s bottom line to keep interest rates unchanged. Meanwhile, the UAE was attacked again, and the restrained exchange of fire between the United States and Iran in the area around the Strait of Hormuz returned to calm but the situation remains tense.
U.S. dollar index in the early Asian trading session after the U.S. and Iran burst into a firefight to refresh the daily high, but then erased all the gains during the day, and ultimately closed down 0.433% at 97.84, last week recorded the fifth decline in six weeks, hitting a low of more than two months; benchmark 10-year U.S. bond yields closed at 4.359%, the Fed’s policy rate-sensitive 2-year U.S. bond yields closed at 3.895%.
Precious metals range-bound, waiting for clarity on the U.S.-Iran deal. Spot gold once approached the $4,750 mark and eventually closed up 0.6% at $4,714.89 per ounce; spot silver closed up 2.35% at $80.35 per ounce.
International oil prices were under pressure, despite sporadic exchanges of fire between the U.S. and Iran, but both sides have no intention of escalating the situation, thus supporting the market’s optimism about the prospects for peace. wti crude oil finally closed down 3.12% at $95.37/barrel; brent crude oil finally closed down 2.4% at $98.82/barrel.