Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD pulls away from daily highs, holds above 1.0750
Premium
EUR/USD has lost its bullish momentum and erased a part of its daily gains after having climbed to the 1.0800 area in the early American session. With Wall Street’s main indexes retreating from opening highs, the US Dollar finds some demand and limits the pair’s upside.
GBP/USD clings to strong daily gains above 1.2150
GBP/USD has managed to build on earlier gains and touched its highest level in nearly a week above 1.2170 on Thursday before retreating modestly. BOE policymakers’ cautious comments on the inflation outlook and the US Dollar’s uninspiring performance fueled the pair’s rally.
Gold: Increasing signs of an upcoming bearish run
Premium
The lack of US Dollar follow-through finally played against the American currency. XAU/USD extended its weekly advance to $1,890.21 before losing its bullish momentum to post a daily low of $1,865.68. The USD gathered strength after Wall Street’s opening, as US Treasury yields trimmed pre-opening losses while stock indexes pulled away from their early highs.
AMC gains ground after Wednesday’s 7% sell-off
AMC stock has advanced 2.3% in Thursday’s premarket a day after losing 7.4% on Wednesday. AMC’s preferred equity unit APE fared even worse in the midweek session, losing 7.7%, and is down another 2.4% in Thursday’s premarket.
Read More
The U.S. Treasury held a 4-week bill auction on Tuesday (15th March 2021) with highly anticipated results. The auction produced impressive results with 4.52% in terms of the average yield and 4.49% in terms of the high yield.
The 4-week bill auction was heavily subscribed, with the total bid-to-cover ratio standing at 4.67:1. The bid-to-cover ratio suggests high demand for the auctioned bills, as a ratio of 4.67 indicates that the total offered was oversubscribed by four times.
The auction also saw strong bidding from foreign investors and other indirect bidders. This was signified by the fact that indirect bidders absorbed around 49.9% of the auctioned bills, a notable figure indicating that international investors still remain optimistic about the US economic outlook.
The strong bidding by foreign investors, as a result of their strong appetite for U.S. debt instruments, had raised the expectations of a robust result from Tuesday’s 4-week bill auction. The auction results exceeded these expectations as the final average yield came to 4.52%, a 5-basis point increase from the previous auction of 4.17%. Furthermore, the high yield of 4.49% at Tuesday’s auction was 5 basis points higher than the previous auction’s high yield of 4.44%.
Overall, Tuesday’s 4-week bill auction exceeded the market’s expectation and produced a robust result. It is a promising indication of the U.S. Treasury’s ability to attract foreign investors and other indirect bidders.
