{"id":66111,"date":"2022-05-27T03:49:36","date_gmt":"2022-05-26T23:49:36","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=66111"},"modified":"2022-05-27T03:53:05","modified_gmt":"2022-05-26T23:53:05","slug":"market-drivers-us-session-thurs-26-may-2022","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/market-drivers-us-session-thurs-26-may-2022\/05\/27\/market-updates\/","title":{"rendered":"Market Drivers \u2013 US Session \u2013 Thurs. 26 May 2022"},"content":{"rendered":"\n

The US dollar attempted to modestly recover early on Thursday but closed the day with losses against most major rivals. Lukewarm US economic data and rallying equities helped particularly safe-haven rival currencies.

US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation concerns that continue to dissipate amid economic data and corporate results that point to slower economic growth. The yields on 10-year Treasury notes surge 0.9 basis points to 2.756% after falling to 2.706% early in the session. Expectations were high a few weeks ago that the Fed could aggressively hike interest rates to tackle inflation, but latest economic data suggested a weakening economy.

Economic Data<\/strong>

The US second estimate of the 2022 first quarter\u2019s Gross Domestic Product, which growth was downwardly revised to -1.5%, worse than the previous estimate of -1.3% and missing the market’s expectations of -1.4%.

Other Developments
<\/strong>
Alibaba stock soars after earnings beat, signs of improving conditions amid another COVID-19 wave. Alibaba Group Holding Ltd.\u2019s U.S.-listed shares climbed 14.8% in Thursday trading to record second best single-day performance after the Chinese giant beat revenue and earnings expectations for the latest quarter.<\/p>\n\n\n\n

Gold seesawed between gains and losses, ending the day little changed at around $1,852 a troy ounce. Among US indexes, the Nasdaq Composite was the best performer, up roughly 3%. The S&P 500 and the Dow Jones Industrial Average added around 2% each.

The EUR\/USD pair nears its weekly high at the end of the day, trading at around 1.0720. The GBP\/USD pair hovers just below 1.2600. The Canadian dollar was among the strongest, with USD\/CAD changing hands at 1.2770 as oil prices surged. WTI settled at $113.90 a barrel. The AUD\/USD pair, on the other hand, remained steady in the 0.7090 region, unable to take advance of Wall Street\u00b4s rally.

Also Read<\/strong>
US Treasury yields settle on slower growth expectations<\/a><\/p>\n\n\n\n

China\u2019s Lockdown Spending Boosts Alibaba\u2019s Earnings<\/a><\/p>\n\n\n\n

Gap shares drop as amid confusing retail earnings<\/a><\/p>\n\n\n\n

AUD\/USD Surges by 0.70%<\/a><\/p>\n\n\n\n

Oil Prices Rally On Stronger Demand<\/a><\/p>\n\n\n\n

EUR\/USD hits fresh highs on improved risk appetite<\/a><\/p>\n\n\n\n

Silver Retracts On Rising T-Yields<\/a><\/p>\n\n\n\n

US Economy Moving ahead, despite Q1 GDP data<\/a><\/p>\n\n\n\n

CAD Edged Lower On Canada\u2019s Retail Sales Data<\/a><\/p>\n\n\n\n

Gold holds near $1,850 ahead of US inflation data<\/a> <\/p>\n\n\n\n

US: Q1 GDP contracts at an annualized pace of 1.5%<\/a><\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The US dollar attempted to modestly recover early on Thursday but closed the day with losses against most major rivals. Lukewarm US economic data and rallying equities helped particularly safe-haven rival currencies.US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation concerns that continue to dissipate …<\/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":[38,37,39,36],"tags":[8161,6832,194,7603,6901],"class_list":["post-66111","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-global-stock-markets","category-market-updates","tag-alibaba","tag-china","tag-gdp","tag-gold-prices","tag-nasdaq"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66111","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=66111"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66111\/revisions"}],"predecessor-version":[{"id":66117,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/66111\/revisions\/66117"}],"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=66111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=66111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=66111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}