Forex
US Dollar Soars as Crude Oil Prices Rally
The US dollar index surged to its best day in nine as crude oil prices rose 6.5% on Thursday and 11% from last Friday's close, trading around $103 for WTI and above $107 for Brent.
This led to a rebound in the US dollar, which has formed a bullish pinbar and three-bar bullish reversal (morning star) on the daily chart, according to data from LSEG.
The Australian dollar was the weakest FX major, falling more than 0.8% to its worst day in 56, while the New Zealand dollar declined by 0.75%, hitting a six-week low.
The US Treasury yields also rose on a combination of monetary policy expectations and growth concerns, with the 30-year yield reaching its highest level since June 2007, at 5.3%.