Oil And Gold Excited As USD Leaks Lower

Tyler Durden's picture

As EURUSD toys with 1.38 and AUD outperforms, the USD is leaking lower (-0.2%) from Friday (after closing the week almost perfectly unchanged Friday-to-Friday). Gold and Oil appear to be basking in the glow of increased macro and geopolitical tensions as $1795 and $99.50 (respectively) have already been broken this evening. It appears Silver and Gold are tracking each other as Oil follows the USD and Copper is the major outperformer so far (in early trading).

 

Commodity (and USD) performance from Friday's close - Gold/Silver (+0.35%) outperforming Oil (+0.14%) as it tracks the USD and Copper outperforms (+1.39%).

 

UPDATE: TSYs just opened (after being closed Friday) with a 4-7bps bear steepener and 2s10s30s rising 8bps. ES is pretty much in line with CONTEXT at 1269 now all the risk drivers are open.

Chart: Bloomberg