{"id":62750,"date":"2022-03-26T03:29:13","date_gmt":"2022-03-25T23:29:13","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=62750"},"modified":"2022-03-26T03:30:10","modified_gmt":"2022-03-25T23:30:10","slug":"market-drivers-us-session-25-march","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-25-march\/03\/26\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 25 March"},"content":{"rendered":"\n

The US dollar climbed against its most major counterparts in the New York session on Friday, as US treasury yields rose amid growing expectations that the Federal Reserve will tighten monetary policy aggressively to curb high inflation.

The benchmark yield on the 10-year treasury note spiked up to 2.462 percent. Yields move inversely to bond prices. Chicago Fed President Charles Evans said on Thursday that he supported a a quarter-point rate hike at the remaining meetings through next March, but is \u201copen-minded\u201d about a possible 50-basis-point move.

Economic Data
<\/strong>Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by seven to 531 this week. That followed a decline of three oil rigs the week before, Baker Hughes data show.

The total active US rig count, which includes those drilling for natural gas, also climbed by seven at 670, according to Baker Hughes.

Other Developments
<\/strong>Investors are pricing in half-point rate hikes in both May and June following hawkish comments from Fed Chair Jerome Powell earlier this week.

Oil prices continued to edge higher in Friday dealings, as reports of an attack on a Saudi oil facility fed supply concerns. May West Texas Intermediate crude was up $1.14, or 1%, at $113.48 a barrel on the New York Mercantile Exchange.

Bank of America\u2019s commodities team has forecast 900K bbl\/day of lower-48 supply additions on 100 horizontal rig additions throughout 2022; the oil rig count is now up 41 in the first 11 weeks of this year.

Also Read
<\/strong>US Shares Close Mixed As Traders Hunt For Fed\u2019s Policy Direction<\/a><\/p>\n\n\n\n

Canadian dollar gains for 9th day on favorable yield spreads<\/a><\/p>\n\n\n\n

Baker Hughes: Weekly US Oil-Drilling Rig Count Climbs<\/a><\/p>\n\n\n\n

US Dollar Benefits From Higher Treasury Yields<\/a><\/p>\n\n\n\n

BoC\u2019s Kozicki: \u201cPrepared to act forcefully\u201d to return inflation to 2.0% target<\/a><\/p>\n\n\n\n

Gold Set For Solid Weekly Gains Despite Higher Yields<\/a><\/p>\n\n\n\n

Fed Bets On Soft Landing, But Recession Risk Still Looming<\/a><\/p>\n\n\n\n

Michigan Consumer Sentiment Mostly Unchanged In March<\/a> <\/p>\n\n\n\n

Aramco Oil Facility In Jeddah Hit By Houthi Missile<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar climbed against its most major counterparts in the New York session on Friday, as US treasury yields rose amid growing expectations that the Federal Reserve will tighten monetary policy aggressively to curb high inflation.The benchmark yield on the 10-year treasury note spiked up to 2.462 percent. Yields move inversely to bond prices. …<\/p>\n","protected":false},"author":13,"featured_media":52669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6885,6846,7164,6984,6871],"class_list":["post-62750","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-oil","tag-powell","tag-treasury-yields","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=62750"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62750\/revisions"}],"predecessor-version":[{"id":62756,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/62750\/revisions\/62756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/52669"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=62750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=62750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=62750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}