Markets saw a firm resumption of risk-off sentiment towards the end of last week on rising yields, an advancing US Dollar, and the prospect of imminent renewed military clashes between the USA and Iran.
WTI Crude Oil futures went into this weekend above the $100.00 realm, finishing around the $100.650 ratio and early trading on Monday is likely to remain within nervous highs.
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Quite a week for the US Dollar (USD). The currency posted gains in every session since Monday, pushing above the key 99.00 hurdle by Friday and reopening the door to a potential revisit of the psychological 100.00 barrier sooner rather than later.
The US Dollar (USD) surged the most in two weeks in mid-May, resulting in EUR/USD falling to 1.1617, its lowest in over a month. The pair held nearby as Friday came to an end, hinting at a downward continuation in the upcoming days.
Gold (XAU/USD) edged higher at the beginning of the week but made a sharp U-turn as the US Dollar (USD) gathered strength on hot inflation data, closing the week in the red by losing more than 3% of its value.