US Treasuries Flat, US Dollar Falls
US Treasury Complex
US Governments seesawed Friday. US Treasuries sold off this morning after the May PPI was released, recovered on safe-haven demand during the equity sell-off, and then gave back the gains to finish unchanged on the day.
- Yield
- 2-yr: Unch at 0.72%
- 5-yr: Unch at 1.73%
- 10-yr: Unch at 2.38%
- 30-yr: Unch at 3.09%
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US Dollar (.DXY) Index: -0.05% to 94.93
Despite the heightened fear in global equity markets, only the Suisse moved up Vs the Buck
- USD/CHF fell -0.71% to 0.9272 as the Sussie benefited from safe-haven buying
- EUR/USD gained 0.31% to 1.1280, a very impressive performance considering that the Greek 10-yr yield spiked 50 bpts and peripheral European debt was showing renewed signs of stress, losing ground against sovereigns of the European core
- Eurozone Industrial Production grew a less-than-expected 0.1% in April after a decline of 0.4% in March. The market was looking for +0.3%
- GBP/USD: +0.31% to 1.5563
- S&P revised the UK’s credit outlook to negative from stable. The country’s rating was maintained at AAA. The change was a result of the outright victory by the Conservatives in May’s general election. David Cameron promised a referendum on EU membership for the United Kingdom during the election, and S&P is worried about the status of Scotland in the event of Britons voting to leave
- S&P also voiced concern with the high current account and budget deficits
- USD/JPY: -0.02% to 123.52
- USD/CAD: +0.24% to 1.23235
- AUD/USD: -0.23% to 0.7753
- NZD/USD: -0.39% to 0.6991
Have a terrific weekend.
HeffX-LTN
Paul Ebeling
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