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Dollar hits two-decade high amid rising US rates, Ukraine war, China's lockdowns

Monday, May 9, 2022
Dollar hits two-decade high amid rising US rates, Ukraine war, China's lockdowns © Reuters. FILE PHOTO: U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic

By Tom Westbrook

SINGAPORE (Reuters) - The dollar hit a two-decade high on Monday as investors searched for safety and yield due to growing concerns over slowing global economic growth and rising interest rates.

Surging inflation, the war in Ukraine, and tighter lockdowns against COVID-19 in Beijing and Shanghai, have left investors uncertain on many counts, but they are sure that U.S. interest rates are going up -- and the dollar is following.

"Moves in U.S. interest rates are not the only dollar support," said strategists at NatWest Markets in a note.

"Downside risks to global growth stemming from Ukraine and China are more pressing for Europe and Asia relative to the U.S., creating an air of 2018-style dollar exceptionalism."

The greenback made a 22-month high on the growth-sensitive New Zealand dollar and rose 1% to a three-month high against the Australian dollar as Asia's stockmarkets tumbled. It rose 0.3% to its highest since 2019 on the Swiss franc.

The euro was down 0.4% at $1.0508 and a whisker above a recent trough of $1.0469. The yen was close to two-decade lows at 130.96 per dollar, while sterling wallowed at $1.2294, barely above Friday's 22-month low. The Canadian dollar hit its lowest since December.

In China trade data showed imports flatlined in April and exports rose 3.9% - a little better than expected and enough to hold the Australian dollar at $0.7006 and off January's low of $0.6967.

However the yuan was dragged to a fresh 18-month low of 6.7110 per dollar as lockdowns in Shanghai were tightened. Traders see the fallout from the inevitable drag on China's economy raking across the region.

The kiwi fell 0.9% to $0.6346 and the U.S. dollar made multi-year highs on the trade-sensitive Taiwan dollar, South Korean won, Singapore dollar and Malaysian ringgit.

It hit its highest in nine months against the Indonesian rupiah.

FORGOTTEN DREAM

The yield on benchmark 10-year U.S. government bonds has climbed a staggering 163 basis points this year and taken the dollar with it.

The dollar index is up nearly 9% for the year and gained for a fifth week in a row last week. It equalled Friday's near 20-year high of 104.070 during the jittery Asia session.

Speculation that Russian President Vladimir Putin might declare war on Ukraine in order to call up reserves during his speech at "Victory Day" celebrations also hurt market sentiment.

Putin has so far characterised Russia's actions in Ukraine as a "special military operation", not a war, or an invasion.

The U.S. Federal Reserve hiked its benchmark funds rate 50 basis points (bps) last week and strong jobs data has reinforced bets on further big hikes, with inflation figures due on Wednesday in focus as next risk of an upside surprise.

Futures markets are pricing a 75% chance of a 75 bp rate rise at the Fed's next meeting in June and more than 200 bps of tightening by year's end.

"Risks around U.S. CPI feel binary; a moderation from 8.5%would be mildly comforting, but a lift would doubtless revive expectations for 75 bp Fed hikes, and probably give the dollar a boost," said analysts at ANZ Bank.

"The idea that synchronised global tightening might proceed gently now feels like a forgotten dream."

Cryptocurrencies have been battered in the rush from risky assets and bitcoin was nursing weekend losses and near its lowest levels of the year at $33,780 while ether, which fell 4% on Sunday, was at $2,470.

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18-05-2022 13:14:04 (UTC+7)

EUR/USD

1.0536

-0.0011 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0536

-0.0011 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2473

-0.0016 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

USD/JPY

129.07

-0.32 (-0.24%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.7029

0.0000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (4)

USD/CAD

1.2816

+0.0008 (+0.06%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

EUR/JPY

135.99

-0.48 (-0.35%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (9)

EUR/CHF

1.0475

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,812.40

-6.50 (-0.36%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Silver Futures

21.652

-0.098 (-0.45%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Copper Futures

4.2395

+0.0072 (+0.17%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

Crude Oil WTI Futures

110.62

+0.99 (+0.90%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Brent Oil Futures

112.43

+0.50 (+0.45%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

Natural Gas Futures

8.252

-0.062 (-0.75%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

228.63

+3.83 (+1.70%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

3,741.51

+56.17 (+1.52%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

S&P 500

4,088.85

+80.84 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

14,185.94

+221.56 (+1.59%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,518.35

+53.55 (+0.72%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Hang Seng

20,638.00

+35.48 (+0.17%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

US Small Cap 2000

1,840.30

+56.87 (+3.19%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,475.70

+122.00 (+1.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (11)

Sell (0)

BASF SE NA O.N.

50.690

+1.395 (+2.83%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

64.12

+0.91 (+1.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Allianz SE VNA O.N.

202.25

+3.43 (+1.73%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Adidas AG

183.30

+3.24 (+1.80%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Deutsche Lufthansa AG

6.827

+0.131 (+1.96%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

Siemens AG Class N

116.50

+2.90 (+2.55%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.538

+0.319 (+3.46%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0536↑ Buy
 GBP/USD1.2473↑ Sell
 USD/JPY129.07↑ Sell
 AUD/USD0.7029Neutral
 USD/CAD1.2816Buy
 EUR/JPY135.99↑ Sell
 EUR/CHF1.0475↑ Buy
 Gold1,812.40↑ Buy
 Silver21.652↑ Buy
 Copper4.2395↑ Buy
 Crude Oil WTI110.62↑ Sell
 Brent Oil112.43↑ Sell
 Natural Gas8.252↑ Sell
 US Coffee C228.63Neutral
 Euro Stoxx 503,741.51↑ Buy
 S&P 5004,088.85↑ Buy
 DAX14,185.94↑ Buy
 FTSE 1007,518.35↑ Buy
 Hang Seng20,638.00Sell
 Small Cap 20001,840.30Neutral
 IBEX 358,475.70↑ Buy
 BASF50.690↑ Buy
 Bayer64.12↑ Buy
 Allianz202.25↑ Buy
 Adidas183.30↑ Buy
 Lufthansa6.827Buy
 Siemens AG116.50↑ Buy
 Deutsche Bank AG9.538↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,825/ 6,925
(0/ 0) # 1,841
SJC HCM6,825/ 6,925
(0/ 0) # 1,841
SJC Hanoi6,825/ 6,927
(0/ 0) # 1,843
SJC Danang6,825/ 6,927
(0/ 0) # 1,843
SJC Nhatrang6,825/ 6,927
(0/ 0) # 1,843
SJC Cantho6,825/ 6,927
(0/ 0) # 1,843
Cập nhật 18-05-2022 13:14:07
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,814.38-0.29-0.02%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI$110.71-0.04-0.04%
Brent$111.21-0.05-0.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.955,0023.265,00
EUR23.783,5625.115,95
GBP28.150,0329.351,12
JPY173,94184,14
KRW15,7819,22
Cập nhật lúc 13:09:07 18/05/2022
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