In today’s video, I break down the latest movements in the US dollar against three of the world’s most traded currencies — the euro, Japanese yen, and British pound. The USDJPY is the biggest mover with a change of 0.3%. The EURUSD and the GBPUSD are within 0.09% of the closing level from yesterday.
Taking a look at the other markets, the yields are higher by 2-3 basis points across the yield curve:
US 5Y T-NOTE: 4.1103 (+0.026)
US 30Y T-BOND: 4.9614 (+0.022)
Treasury auctions provide key insight into investor appetite for duration amid softening yields and shifting expectations around Federal Reserve policy. The focus will be on demand metrics such as bid-to-cover ratios and foreign participation, particularly as the longer-dated paper often reveals sentiment around inflation and growth prospects. There may be a redirection of foreign funds as a result of auctions as well. The 10 year is a key issue and proxy, as it is an influence on corporate borrowing as well as consumers with mortgages, car loans and other consumer credit loans hinging on that rate.
In the US stock market, the major indices are trading marginally lower with the futures currently implying:
Dow Industrial Average -62 pointsS&P index down -5.31 pointsNasdaq index down -18 points This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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