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US data supports the rise of the US dollar, and the yellow metal loses more than 1%
image 29 June، 2021
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The US dollar index, which measures the performance of the dollar against a basket of currencies (Dollar Index), rises by more than 0.30%, and is trading at 92.14 levels, with the beginning of the US session’s trading on Tuesday, June 29, in a rise for the second consecutive session, supported by the improvement in the US consumer confidence index and the US sector The housing market is awaiting the US labor market statement by the end of this week, which is expected to play a major role in determining the timing of the gradual decrease in asset purchases.

Data issued a short while ago from New York showed that the Conference Board’s consumer confidence index in the United States of America rose in June to 127.3 compared to the revised reading in May to 120, and better than expectations that it would rise to 118.9 in the largest pace of growth since March 2020 the beginning of the emergence of the Corona virus. . In details, the current situation index rose to 157.7 from 148.7, while the expectations index rose to 107 compared to 100.9 in May.

On the other hand, the FHFA home price index rose by 1.8% in April compared to 1.4% in March, as house prices rose by 15.7% in April at an annual pace.

On the other hand, US Fed President in Richmond Thomas Barkin indicated that inflation in the US is rising significantly and that he supports the US Federal Reserve in the decision to gradually decrease asset purchases with some improvement in employment levels in the third quarter of this year.

The yellow metal (gold) is losing about 1.30% with the opening of the US markets for today’s session, trading at levels of 1.755 dollars per ounce, affected by the rises of the US dollar, while silver loses about 1.66% and is trading at levels of 25.66 dollars per ounce.

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