Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Deutsche Bank AG
  6. News
  7. Summary
    DBK   DE0005140008


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Deutsche Bank : Dollar hits one-year high as U.S. yields rise, inflation data on tap

10/12/2021 | 02:53pm EST
FILE PHOTO: Banknotes of Euro, Hong Kong dollar, U.S. dollar, Japanese yen, GB pound and Chinese 100 yuan are seen in this picture illustration, in Beijing

NEW YORK (Reuters) - The dollar hit a one-year high on Tuesday on expectations the U.S. Federal Reserve will announce a tapering of its massive bond-buying program next month, and as concerns over soaring energy prices also sent investors to the safe-haven greenback.

Yields on the U.S. two-year Treasury note jumped to their highest in more than 18 months, as investors sold U.S. debt, reckoning that surging energy prices would fuel inflation and add to pressure on the Fed to take action sooner than anticipated. [US/]

"The focus right now is Treasury rates," said Joseph Trevisani, senior analyst at FXStreet.com. "The credit markets are anticipating the taper starting, I think, in November."

Investors will watch U.S. Consumer Price Index data on Wednesday and retail sales data on Friday for further clues as to when the Fed might begin winding down stimulus.

"The data is going to be huge," said Joe Manimbo, senior market analyst at Western Union Business Solutions.

"These numbers will speak to both the inflation outlook, as well the extent to which third-quarter growth likely moderated. So if we get another hot print on inflation tomorrow, that would tend to cement tapering this year and maybe lead the market to fine-tune expectations on when we could see lift-off on interest rates," he said.

The dollar index, which measures the greenback against a basket of major currencies, touched 94.563, its highest since late September 2020.

The spike in U.S. yields prompted investors to dump the Japanese yen versus the dollar, resulting in the second-biggest daily fall in the Japanese currency on Monday.

As Treasury yields rose further on Tuesday, the dollar hit a three-year high versus the yen, which has fallen 4% versus the greenback in three weeks.

"The primary driver of the move is the further rise that we've seen in U.S. Treasury yields - so it's a fairly simple story of a widening rates differential ... adding to the attraction of the carry trade," said Ray Attrill, head of foreign exchange strategy at National Australia Bank.

A Deutsche Bank monthly market sentiment survey this month noted that an overwhelming majority of respondents expect U.S. Treasury yields to rise from current levels.

The dollar also strengthened against the euro, with the common currency down 0.23% at $1.1525, its lowest since July 2020 as rising energy prices fed worries inflation may dent economic growth.

Oil passed $84 a barrel, within sight of a three-year high, before easing slightly, as a rebound in global demand after the worst of the pandemic caused price spikes and shortages in other energy sources. Coal has scaled record peaks and gas prices remain four times higher in Europe than at the start of 2021.

The ZEW indicator of economic sentiment in Germany slipped for the fifth month, the latest in a string of indicators showing supply bottlenecks holding back recovery in Europe's largest economy.

The commodity-linked Australian dollar was up 0.16% at $0.7357.

In cryptocurrencies, bitcoin was down 3.02% at $55,750. Ether, the world's second biggest cryptocurrency dropped 1.38% to $3,495.

FX performance https://fingfx.thomsonreuters.com/gfx/mkt/gkvlgxwazpb/FX%20performance.JPG

(Reporting by John McCrank; additional reporting by Saikat Chatterjee in London; Editing by Kirsten Donovan, Bernadette Baum and David Gregorio)

By John McCrank

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG 2.65% 10.928 Delayed Quote.22.27%
NATIONAL AUSTRALIA BANK LIMITED 0.29% 27.38 End-of-day quote.21.15%
All news about DEUTSCHE BANK AG
09:57aAnalysis - A trillion-dollar wager that interest rates won't rise far
09:27aDeutsche Bank Notes Shopify's Black Friday Numbers "Slightly Off Pace" from Expectation..
09:14aDeutsche Bank Cuts Lundin Mining Price Target
09:09aDeutsche Bank Notes Nearly 10% YoY Drop in Weekly Rail Volumes as B.C. Flooding Continu..
11/30HSBC, Deutsche Bank, Swiss Re Back New ESG Data Platform
11/30ESG Book aims to 'disrupt' sustainability sector with free data
11/30EUROPEAN MIDDAY BRIEFING - Moderna CEO Comments Drag Stocks Lower
11/30Korea Development Bank Files for Singapore Listing of $20 Million Bonds
More news
Analyst Recommendations on DEUTSCHE BANK AG
More recommendations
Sales 2021 25 037 M 28 342 M 28 342 M
Net income 2021 1 879 M 2 128 M 2 128 M
Net cash 2021 53 831 M 60 937 M 60 937 M
P/E ratio 2021 12,5x
Yield 2021 2,31%
Capitalization 22 014 M 24 813 M 24 920 M
EV / Sales 2021 -1,27x
EV / Sales 2022 -1,59x
Nbr of Employees 84 512
Free-Float 92,9%
Duration : Period :
Deutsche Bank AG Technical Analysis Chart | DBK | DE0005140008 | MarketScreener
Technical analysis trends DEUTSCHE BANK AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 19
Last Close Price 10,66 €
Average target price 11,84 €
Spread / Average Target 11,1%
EPS Revisions
Managers and Directors
Christian Sewing Chief Executive Officer
Karl von Rohr President
James von Moltke Chief Financial Officer
Paul Achleitner Chairman-Supervisory Board
Bernd Leukert Chief Technology, Data & Innovation Officer
Sector and Competitors