Safe-haven yen and US dollar surge as tensions in the Middle East escalate: Form NPORT-P Datum One Series Trust Update for June 28

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Key Takeaways:

  • 💵 The U.S. dollar rallied from an eight-month low due to escalating Middle East tension
  • 🌍 Geopolitical tension led to safe-haven assets like the yen and Swiss franc rising
  • 🛢️ Oil prices saw a 3% rally, benefiting currencies such as the yen, Swiss franc, and Canadian dollar
  • 📈 U.S. dollar index rose to 100.84, up 0.2% from lows in late December
  • 🇯🇵 Yen gained more than other safe havens against the dollar, boosted by expected U.S. interest rate cuts
  • 📉 Euro fell against the yen and dollar, while ECB policymakers are considering another rate cut
  • 📉 Australian, New Zealand dollars, Norwegian crown lower against the dollar due to risk-off sentiment
  • 🇨🇭 Swiss franc benefitted from risk-off stance, with both the dollar and euro falling against it
  • 🇬🇧 Sterling slid against the dollar, following Bank of England’s less aggressive stance on interest rate cuts
  • 💸 US durable goods orders surged in July, impacting the dollar’s performance
  • 📉 Risk-off sentiment weighed on Australian and New Zealand dollars, as well as the Norwegian crown
  • 📉 Federal Reserve Chair Jerome Powell confirmed expected U.S. interest rate cut, leading to bets on a 25 bps rate cut in September
  • 💱 Euro eased against the dollar, while ECB policymakers are lining up behind another rate cut on Sept. 12
  • 💱 Euro eased against the dollar, signaling a safe-haven move towards the greenback
  • 💰 U.S. dollar rallied from an eight-month low, while the yen rose as geopolitical tensions in the Middle East heightened
  • 📈 Oil prices rallied, benefiting currencies like the yen, Swiss franc, and Canadian dollar

U.S. Dollar Performance:

  • 💵 The U.S. dollar rallied from an eight-month low due to escalating Middle East tension
  • 📈 U.S. dollar index rose to 100.84, up 0.2% from lows in late December
  • 💸 US durable goods orders surged in July, impacting the dollar’s performance

Safe-Haven Currencies:

  • 🌍 Geopolitical tension led to safe-haven assets like the yen and Swiss franc rising
  • 🇯🇵 Yen gained more than other safe havens against the dollar, boosted by expected U.S. interest rate cuts
  • 🇨🇭 Swiss franc benefitted from risk-off stance, with both the dollar and euro falling against it
  • 💰 U.S. dollar rallied from an eight-month low, while the yen rose as geopolitical tensions in the Middle East heightened

Market Sentiment:

  • 🛢️ Oil prices saw a 3% rally, benefiting currencies such as the yen, Swiss franc, and Canadian dollar
  • 📉 Risk-off sentiment weighed on Australian and New Zealand dollars, as well as the Norwegian crown

Economic Outlook:

  • 📈 Federal Reserve Chair Jerome Powell confirmed expected U.S. interest rate cut, leading to bets on a 25 bps rate cut in September
  • 💱 Euro eased against the dollar, while ECB policymakers are lining up behind another rate cut on Sept. 12

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