{"id":16322,"date":"2022-05-10T04:30:27","date_gmt":"2022-05-10T04:30:27","guid":{"rendered":"http:\/\/egrowonline.com\/?p=16322"},"modified":"2022-05-10T04:30:27","modified_gmt":"2022-05-10T04:30:27","slug":"commodity-currencies-hit-by-tumbling-oil-prices-bitcoin-near-10-month-low","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=16322","title":{"rendered":"Commodity currencies hit by tumbling oil prices, bitcoin near 10-month low"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p data-testid=\"primary-image-caption\" id=\"primary-image-caption\" class=\"text__text__1FZLe text__medium-grey__3A_RT text__regular__2N1Xr text__small__1kGq2 body__base__22dCE body__caption__3L8vY article-body__primary-image-caption__WHVnb\">A man walks past various currency signs, including the dollar (top R), Australian dollar (top L), pound sterling (centre L) and Euro (bottom L), outside a brokerage in Tokyo October 28, 2014. REUTERS\/Yuya Shino<\/p>\n<div class=\"registration-prompt__container__2jf5K column article-body__aside-registration-prompt__2ivER\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h6 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_6__1qUJ5 heading__base__2T28j heading__heading_6__RtD9P registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h6>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<\/div>\n<div>\n<p data-testid=\"paragraph-0\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">HONG KONG, May 10 (Reuters) &#8211; Falling commodity prices dragged the Australian and Canadian currencies lower on Tuesday, although the dollar was steady against most other majors while bitcoin continued to tumble.<\/p>\n<p data-testid=\"paragraph-1\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The Aussie dollar dropped as low as $0.6920, its weakest since July 2020, having fallen 1.7% overnight, which analysts at CBA attributed to declines in global asset prices.<\/p>\n<p data-testid=\"paragraph-2\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">&#8220;The backdrop of heightened financial market volatility suggests AUD can potentially fall further against the USD and other major crosses in the near term,&#8221; they added.<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI article-body__inline-registration-prompt__1-N9W\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p data-testid=\"paragraph-3\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Global share markets took a battering on Monday with the Nasdaq dropping more than 4% in a sell-off led by mega-cap growth stocks. Meanwhile, oil prices fell around 6%, extending declines on Tuesday as coronavirus lockdowns in China, the top oil importer, fed worries about demand.<\/p>\n<p data-testid=\"paragraph-4\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Lower oil prices also hurt the Canadian dollar , which touched C$1.3037 per dollar, its weakest since November 2020 and the Norwegian crown touched 9.7184 per dollar, its lowest since June 2020.<\/p>\n<p data-testid=\"paragraph-5\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The dollar index was steady at 103.7 on Tuesday morning, having risen as high as 104.19 overnight, a fresh 20-year peak. It later lost some ground after Atlanta Fed President Raphael Bostic hosed down talk of a 75-basis points at the Fed&#8217;s next meeting. <a target=\"_blank\" data-testid=\"Link\" href=\"https:\/\/www.reuters.com\/world\/us\/bostic-says-inflation-may-cool-faster-leaving-less-fed-do-2022-05-09\/\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\"> read more <\/a><\/p>\n<p data-testid=\"paragraph-6\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">In recent weeks, markets have priced in a reasonable chance of such a massive hike.<\/p>\n<p data-testid=\"paragraph-7\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">U.S. Treasury yields have climbed on expectations the Fed will aggressively tamp down inflation, which has caused the dollar to rise for five straight weeks.<\/p>\n<p data-testid=\"paragraph-8\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The benchmark 10-year yield edged back under 3% on Tuesday to 2.9846%.<\/p>\n<p data-testid=\"paragraph-9\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Bostic&#8217;s moderate remarks helped the Japanese yen recover a little from a fresh 20-year low of 131.34 yen per dollar hit overnight. The Japanese currency, which is sensitive to moves in U.S. yields, strengthened a little more on Tuesday to 130.1.<\/p>\n<p data-testid=\"paragraph-10\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The beaten down euro was a fraction higher at $1.0561 and sterling was little changed at $1.2329.<\/p>\n<p data-testid=\"paragraph-11\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">There was also excitement in crypto markets, where bitcoin fell below $30,000 for the first time since July 2021.<\/p>\n<p data-testid=\"paragraph-12\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">The world&#8217;s largest cryptocurrency is trading largely in line with other so called risk assets, such as tech stocks. It was last a little firmer around $30,600.<\/p>\n<div class=\"registration-prompt__container__2jf5K registration-prompt__inline__2WDU- article-body__element__2p5pI\">\n<div class=\"registration-prompt__text-content__o0YET\">\n<h5 data-testid=\"Heading\" class=\"text__text__1FZLe text__white__3r45t text__medium__1kbOh text__heading_5__2krbj heading__base__2T28j heading__heading_5__2A2g- registration-prompt__heading__3fq-h\">Register now for FREE unlimited access to Reuters.com<\/h5>\n<p><button data-testid=\"Button\" class=\"button__button__2Ecqi button__secondary__18moI button__round__1nYLA text-button__container__3q3zX registration-prompt__button-text__3kTtQ\" type=\"button\"><\/p>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__inherit-color__3208F text__bold__2-8Kc text__default__UPMUu text-button__medium__113uZ\">Register<\/span><\/p>\n<p><\/button><\/div>\n<\/div>\n<p><span data-testid=\"Text\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__default__UPMUu sign-off__text__PU3Aj\">Reporting by Alun John; Editing by Sam Holmes<\/span><\/p>\n<p data-testid=\"Body\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__large__nEccO body__base__22dCE body__large_body__FV5_X article-body__element__2p5pI\">Our Standards: <a target=\"_blank\" data-testid=\"Link\" href=\"https:\/\/www.thomsonreuters.com\/en\/about-us\/trust-principles.html\" class=\"text__text__1FZLe text__dark-grey__3Ml43 text__medium__1kbOh text__large__nEccO link__underline_default__2prE_\" rel=\"noopener\">The Thomson Reuters Trust Principles.<\/a><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.reuters.com\/business\/commodity-currencies-hit-by-tumbling-oil-prices-bitcoin-near-10-month-low-2022-05-10\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A man walks past various currency signs, including the dollar (top R), Australian dollar (top L), pound sterling (centre L) and Euro (bottom L), outside a brokerage in Tokyo October 28, 2014. REUTERS\/Yuya Shino Register now for FREE unlimited access to Reuters.com Register HONG KONG, May 10 (Reuters) &#8211; Falling commodity prices dragged the Australian [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[8001,50,7999,1842,133,3780,666,8000],"class_list":["post-16322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-10month","tag-bitcoin","tag-commodity","tag-currencies","tag-hit","tag-oil","tag-prices","tag-tumbling"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/05\/MXXAWI2YARNANIKZUZS2MDUXGM.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16322"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16322\/revisions"}],"predecessor-version":[{"id":16324,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/16322\/revisions\/16324"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/16323"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16322"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}