US Dollar Down, US Treasuries Traded Down
US Dollar (.DXY) falls on positive data
Strong Wholesale Inventories for April and a higher-than-expected April JOLTS failed to keep .DXY in the Green today. The gravitational force of normalizing European sovereign debt yields is pulling money East across the Atlantic and even a strong May employment report and 2 positive economic surprises from the US Tuesday failed to keep the Buck up
- US Dollar (.DXY) Index: -0.19% to 95.12
- EUR/USD: +0.09% to 1.1288
- Eurozone GDP for Q-1 Y 2015 was +0.4% Q-Q beat both the United States and the UK for that Quarter
- Industrial Production for France, Italy, and the UK will be reported overnight
- USD/JPY: -0.21% to 124.36
- Household Confidence fell to 41.4 in May, lower than expectations and the prior reading of 41.5
- USD/CHF: +0.33% to 93.07
- The Swiss CPI rose 0.2% m/m in May which was a larger rise than expected. Swiss unemployment beat expectations, falling to 3.2% in May
- USD/CAD: -0.68% to 1.2329
- GBP/USD: +0.26% to 1.5381
- The UK’s trade deficit narrowed more than expected in April to 8.56-B Vs 10.7-B in March
- AUD/USD: -0.07% to 0.7679
- NZD/USD: +0.03% to 0.7136
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US Treasury Complex
US Government debt fell in broad-based decline
- US Treasuries traded down today both before and after the release of economic data at 10:00a EDT that surprised on the upside (Wholesale Inventories and JOLTS). European sovereigns were also weak, failing to produce a meaningful bounce despite continued uncertainty surrounding Greece’s membership in the Eurozone.
- Yield Check:
- 2-yr: +3 bpts to 0.71%
- 5-yr: +3 bpts to 1.74%
- 10-yr: +2 bpts to 2.41%
- 30-yr: +3 bpts to 3.15%
Stay tuned…
HeffX-LTN
Paul Ebeling
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