The expectation of the Federal Reserve's radical interest rate hike is heating up, and the US index rises with the US bond yield. The US dollar index rose 0.6% to 101.12 this week, rising for the third consecutive week. Fed officials have released hawkish signals to boost market expectations of the Fed's radical interest rate hike, and the US index rose with US bond yields. The euro fell 0.13% to 1.0800 against the dollar. This week, senior officials of the European Central Bank spoke intensively and may raise interest rates as soon as July. However, European Central Bank President Lagarde said that it may be necessary to further reduce economic growth expectations, and the more hawkish Federal Reserve continued to put pressure on the euro against the dollar. The dollar rose 1.60% against the yen to 129.42 this week. The yen continued to depreciate, the lowest level in nearly 20 years. Japan maintained an ultra loose monetary policy, which put pressure on the yen. However, the Bank of Japan intervened again on Wednesday and bought 10-year Treasury bonds in unlimited quantities to maintain the yield target, bringing some support to the yen.
This week, the June contract of us oil fell 4.86% to US $101.75/barrel, as the Fed's expectation of accelerating interest rate hike and the weak global growth outlook hit demand, but OPEC reiterated that it would not increase production, and the EU may continue to tighten restrictions on Russian crude oil, further tightening global supply. COMEX gold futures fell 2.15% to US $1932.5/oz this week. The aggressive interest rate hike expectation of the Federal Reserve and the rise of the US dollar index put pressure on the international gold price.
