The premium for later deliveries of crude oil may collapse as the spread between the first two monthly futures contracts follows a “stair-step” pattern, according to a technical analysis by Barclays Capital.
The euro fell against most of its major peers as investors sold peripheral government bonds amid speculation the region’s economy remains sluggish.
The dollar may be forming a base against the yen, a move that could spur a longer-term uptrend, according to Bank of America Corp.
Treasury 10-year notes fell for the fifth straight day, the longest stretch of losses since October, after the Institute for Supply Management’s non-manufacturing index rose more than forecast in May.
The euro may drop to the weakest level in almost a year and a half after breaking through its low from October, according to Bank of America Corp.
BofA’s Macneil Curry Says Gold Still in Bull Market
BofAML’s Curry Sees Continuation of Euro Weakness