USA dollar climbs on rising Treasury yield

Dollar near 5-month high after benchmark Treasury yield soars above 3 pct

The dollar resumed its rally in European trading and reached a high for the year.

On the economic front, advance estimates of U.S. retail and food services sales for April were 497.6 billion U.S. dollars, an increase of 0.3 percent from the previous month, in line with market expectations, said U.S. Commerce Department on Tuesday.

Elsewhere, emerging-market equities steadied following Tuesday's plunge, but developing currencies turned lower and the lira weakened again.

Risk aversion spread across asset classes as investors - already uncomfortable with rising yields and a strong dollar - grappled with trade, growth, and geopolitical worries.

Wednesday's relative stability will be welcomed by many investors, given that fresh uncertainty about the U.S.

Oil prices hovered around multi-year highs, supported by concerns that USA sanctions on Iran are likely to restrict crude oil exports from one of the biggest producers in the Middle East. -China trade spat, and global growth concerns are fueling negative sentiment.

"The broader risk for the region if talks do break down is that Trump no longer feels the need to keep China on side and could escalate trade tensions again". Gold fell below $1,300 an ounce for the first time since December and the yen dropped.

European Union Chief Brexit negotiator Michel Barnier briefs European affairs ministers on the status of talks with the United Kingdom.

The pan-European FTSEurofirst 300 index edged up 0.17 percent.

Futures on the S&P 500 Index dipped less than 0.05 percent to the lowest in a week.

"The resurgent tone for the USA dollar is largely due to, number one, the move higher in Treasury bond yields across the curve and number two, the relatively solid data we saw on retail sales", said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange Inc in Washington D.C.

US stock futures traded down 1.25 percent.

Adobe Systems (ADBE) Expected to Announce Earnings of $1.54 Per Share
Cerebellum GP LLC purchased a new stake in Adobe Systems during the fourth quarter valued at approximately $118,000. This short time frame picture represents an upward movement of current price over average price of last 20 days.

Neymar Responds To Real & Man Utd Transfer Links
Meanwhile, NAIJ.com had earlier reported about Neymar's frustrations concerning the rumours surrounding his future with PSG. I think it's one of the most hard I've ever had, because I'm very close to a dream I have, which is the World Cup.

3 storm-related deaths in Connecticut, New York
The extreme storm downed bushes and utility poles sparked a vehicle hearth in East Rutherford, N.J., police mentioned. Damage to train tracks from severe weather has suspended Brunswick, Maryland's MARC's Brunswick Line service.

Germany's DAX Index advanced 0.2 percent.

Benchmark 10-year notes last fell 17/32 in price to yield 3.0576 percent, from 2.995 percent late on Monday.

The MSCI All-Country World Index declined 1 percent, the first retreat in a week.

Germany's 10-year yield declined three basis points to 0.62 percent, the biggest drop in nearly two weeks.

The MSCI Asia Pacific Index sank 1.1 percent, the largest decrease in nearly seven weeks.

On Wall Street, the Dow Jones Industrial Average fell 197.2 points, or 0.79 percent, to 24,702.21, the S&P 500 lost 19.78 points, or 0.72 percent, to 2,710.35 and the Nasdaq Composite dropped 73.24 points, or 0.99 percent, to 7,338.08.

The euro declined 0.7 percent to $1.1846.

The advance stalled last week after weaker-than-expected April US inflation data, but regained traction overnight as strong US consumer spending numbers sent long-term Treasury yields surging to a seven-year peak of 3.095 per cent.

Euro zone banks slid an even bigger 1.71 percent, extending losses despite a League spokesman saying the request for cancellation of the debt was not in the official draft of the government programme.

The dollar was down by 0.1 percent to 110.13 against the yen, after reaching 110.45 on Tuesday, its highest since February 5.

West Texas Intermediate crude dipped 0.3 percent to $71.12 a barrel.

Iron ore declined 0.5 percent to 485 yuan per metric ton.

Related news:

Hot News

isis-killer-beheading-video-story-top Karnataka polls: Adequate security deployed for fair counting, assures EC Chief
May 16, 2018 - 15:39
Karnataka , Andhra Pradesh and Tamil Nadu, in that order, have been the highest poll-time spenders in the country, it said. The voting in the single-phase poll in the state took place on May 12 and the counting of votes is scheduled for tomorrow.

isis-killer-beheading-video-story-top Tencent reports Q1 beats, 61% profit growth
May 16, 2018 - 15:34
The company announced that had seen growth in the double digits related to the number of daily active users for that game. Revenue reached 73.52 billion yuan equal to $11.5 billion compared to expectations on Wall Street of 72.04 billion yuan.

isis-killer-beheading-video-story-top Will Barclay appointed to panel selecting NY attorney general; interviews start today
May 16, 2018 - 15:33
Up first was the current acting attorney general, Barbara Underwood, who is the favorite to win the appointment. Kathleen Rice (D-LI), who announced Tuesday she would be running for re-election instead.

isis-killer-beheading-video-story-top Pope warns bloodshed in Gaza hurts peace: 'War begets war'
May 16, 2018 - 15:32
I express my great pain for the dead and wounded and I am close to all who suffer with my prayers. Francis gave the bishops a text "with different themes for meditation" the Vatican said.

isis-killer-beheading-video-story-top Overwatch Anniversary Celebration Brings Tons Of Content On May 22nd
May 16, 2018 - 15:31
With these loot boxes , players can get items that were left behind in the Summer Games and other Overwatch events. Additionally, the event will bring back all seasonal cosmetic items, as well as some past seasonal brawls.

isis-killer-beheading-video-story-top Manchester United, Liverpool Reportedly Set for New Club World Cup Invitation
May 16, 2018 - 15:23
Clubs could earn up to £100 million from participating in the tournament which is backed by a consortium led by Japanese company SoftBank.

Liberty Global Plc (LBTYK) Holder Spo Advisory Corp Cut Stake
May 16, 2018 - 15:19
Scully decreased its stake in Liberty Global Plc ( LBTYK ) by 9.59% based on its latest 2017Q4 regulatory filing with the SEC. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.

isis-killer-beheading-video-story-top NASA breaks record with new photo of Earth
May 16, 2018 - 14:58
This first-ever image from the MarsCO mission was captured on May 9 by the "Wall-E" satellite, officially known as MarCO-B. MarCO will send data back to NASA about InSight Lander's condition as it enters the planet's atmosphere and explores Mars.

isis-killer-beheading-video-story-top BSEB 10th class result 2018 expected today; check at biharboard
May 16, 2018 - 14:51
So, all the interested students who have appeared for their Bihar Board exams then, they can check their results today. The BSEB official has also suggested candidates to not believe on rumours regarding the result declaration date.

isis-killer-beheading-video-story-top Georgia gubernatorial candidate goes on campaign tour with his 'deportation bus'
May 16, 2018 - 14:43
Under Casey Cagle's failed leadership, Georgia now outranks both Arizona and New Mexico in the total number of illegal aliens. All you have to do is take a look at his bus that says, "Fill this bus with illegals vote Michael Williams! ".

isis-killer-beheading-video-story-top Tesla SUV earns Guinness World Record by towing plane almost 1000 feet
May 16, 2018 - 14:05
Although it's rated to tow 2500kg, the Model X managed to pull the 130,000 kg airplane almost 300 meters. Avid motoring enthusiasts probably remember Volkswagen towing a Boeing 747 with a diesel V10 Touareg.

isis-killer-beheading-video-story-top White House may address violence around opening of US Embassy in Jerusalem
May 16, 2018 - 13:55
Gaza's Health Ministry says the number of Palestinians killed by Israeli army fire near the Gaza border has reached 37. No Israeli soldier or civilian was killed or wounded in Monday's clashes, according to Vox .

isis-killer-beheading-video-story-top IPL 2018 | MI vs KXIP, match 50: Everything you need to know
May 16, 2018 - 13:54
Mumbai Indians have an impressive net run-rate to brag about, but their middle order has been a grain in the shoes as of late. RCB defeated the Kings XI Punjab by 10 wickets on Monday at the backyard of the Punjab XI in Indore.

isis-killer-beheading-video-story-top Watch the new trailer for Mission: Impossible - Fallout called "Payoff"
May 16, 2018 - 13:45
The same could be said for most Mission: Impossible sequels, but it bears repeating: the stakes have never been higher. It's directed by Christopher McQuarrie , who previously helmed 2015's Ghost Protocol .

Analysts' Activity: Tandem Diabetes Care (TNDM)
May 16, 2018 - 13:27
Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio. That is, if security is continuing higher in an uptrend, the amount of the protection should also increase and vice versa.