- European session review: USD appreciates as U.S. Treasury yields climb
Market news
European session review: USD appreciates as U.S. Treasury yields climb
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:45 | France | Consumer confidence | March | 91 | 91 | 94 |
| 07:00 | Switzerland | KOF Leading Indicator | March | 102.6 | 104.6 | 117.8 |
| 09:00 | Eurozone | Industrial confidence | March | -3.1 | 2 | |
| 09:00 | Eurozone | Consumer Confidence | March | -14.8 | -10.8 | -10.8 |
| 09:00 | Eurozone | Economic sentiment index | March | 93.4 | 96 | 101 |
USD rose against its major counterparts in the European session on Tuesday as rapid vaccinations and the prospect of more stimulus in the U.S. pushed inflation expectations and the U.S. Treasury yields higher.
Benchmark 10-year Treasury note yields are trading at 1.764% at the moment after surging to a fresh 14-month high of 1.776% in overnight trading. On this background, the U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, passed the 93.00-mark for the first time since early November. The DXY is currently trading at 93.21, up 29%.
Investors awaited details of the U.S. President Joe Biden's plan to boost infrastructure spending as part of a $3 trillion stimulus deal, set to be unveiled on Wednesday.
In addition, market participants continued to weigh the fallout from the defaults of the U.S. hedge fund Archegos Capital.
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