Earlier in the U.S. session, the dollar was firmer across the board, but those gains faded as the day wore on, leaving the FX market locked in another up-and-down pattern.
The U.S. Treasury’s $70 billion 5-year note auction tailed by 0.7 bps, with a high yield of 3.724% versus a 3.717% WI. The bid-to-cover was 2.36x, right in line with the 6-month average of 2.37x. Domestic demand was notably strong, with direct bidders taking 30.7% (vs 19.4% average), while indirects were softer at 60.5% (vs 69.3%). Dealers were left with 8.8%, below their 11.2% average.
A Summary of the inventory data shows:
Gasoline: -1.236M vs -2.154M expected
Cushing: -0.838M vs +0.419M last week
WTI crude oil settled at $64.15, up $0.90 (+1.42%), near the highs of the day (high $64.23, low $62.95).
Technical picture: Crude briefly broke below its 200-hour moving average for the first time since August 21, but buyers defended the level and momentum shifted back higher. The inventory drawdown helped fuel a rebound back above the 100-hour MA at $63.74, putting buyers in control in the short term.
In other commodity news,
Gold is ending the day up $-2.92 or 0.08% at $3395.Silver is trading down $0.06 or -0.17% at $38.51.US stocks moving higher with the S&P closing at a new record level.
Dow industrial average up 146.98 points or 0.32% at 45565.05S&P index closed at a new record high for the 19th time this year. The index rose 15.46 points or 0.24% at 6481.40.NASDAQ index rose 45.87 points or 0.21% at 21590.14.Nvidia will announce earnings at 4:20 PM ET. Shares rose down $0.26 or -0.14% at $181.51. EPS is expected at $1 (versus $0.68 last year - up 47%) while revenues are expected at $46.05 billion (up from 30.04 billion last year – up 53%).
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about investinglive americas fx news wrap 27 aug a choppy session in the fx traders are unsure was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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