Forex Today: US Dollar Hits 2-Year High, Stocks Slump

Commodity markets mostly fell Friday, excepting the energies sector.Friday’s US non-farm payroll data came in a little higher than had been expected, but had little effect on markets.Two members of the ECB have spoken about the probability of rate hikes over the near term, with one member stating the first hike should be made in July, and another calling for a total of 3 hikes in 2022.There will be a release today of the minutes of the most recent meeting of the Reserve Bank of Australia.Daily new coronavirus cases globally fell last week for the seventh consecutive week.It is estimated that 65.5% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.5% of the global population is confirmed to have contracted the virus at some time.Total confirmed new coronavirus cases worldwide stand at over 517.3 million with an average case fatality rate of 1.21%.The rate of new coronavirus infections appears to now be increasing only in China, South Africa, the Solomon Islands, and Taiwan.The Chinese state doubles down on its “zero covid” strategy, with mass testing in Beijing and increased lockdown restrictions in Shanghai. The measures are hurting the Yuan and the Chinese stock market.