Last Friday, the U.S. Dollar Index closed slightly lower by 0.01% at 100.87, following Thursday’s decline, marking its largest weekly drop since April. This came after a weak U.S. jobs report dampened market expectations for an imminent interest rate hike by the Federal Reserve.The benchmark 10-year U.S. Treasury yield closed at 4.90%, while the 2-year U.S. Treasury yield, which is sensitive to the Fed’s policy rate, closed at 4.181%.
Spot gold rose on the back of a weaker U.S. dollar, briefly approaching $4,200 during the session before ultimately closing up 1.18% at $4,175.7 per ounce, marking its first weekly gain after four consecutive weeks of declines;Spot silver ultimately closed up 2.28% at $62.37 per ounce.
The U.S.-Iran negotiations remain fragile, with disputes persisting over transit fees and management of the Strait of Hormuz, leading to a slight rise in international crude oil prices.WTI crude oil ultimately closed up 0.44% at $68.73 per barrel; Brent crude oil ultimately closed up 0.49% at $71.94 per barrel.
Major European stock indices closed higher across the board, with Germany’s DAX 30 index up 0.78%, the UK’s FTSE 100 index up 0.25%, and the Euro Stoxx 50 index up 0.82%.
U.S. stock markets were closed for the Independence Day holiday.