US Treasuries Rally, US Dollar Up
US Treasury Complex
US Treasuries rallied Thursday, the Treasury complex reminded participants that it can trade in both directions daily, as the yield curve flattened and all maturities climbed despite better-than-expected economic data
- Yield
- 2-yr: -1 bpt to 0.72%
- 5-yr: -6 bpts to 1.73%
- 10-yr: -10 bpts to 2.39%
- 30-yr: -11 bpts to 3.10%
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US Dollar (.DXY) Index
The Buck gained against all peers Thursday, the gains came during the European session, and the index failed to push higher after the May Retail Sales report, it finished higher but off it’s highs
- EUR/USD: -0.49% to 1.1263
- The French Harmonized Index of Consumer Prices rose 0.2% in May, in line with estimates but more than the 0.1% rise in April
- French Non-Farm Payrolls surprised on the upside, remaining flat in Q-1 Q-Q Vs a fall of 0.1% in Q-4 of Y 2014
- USD/JPY: +0.46% to 123.41
- The pair is still digesting the remarks BOJ Governor Haruhiko Kuroda made Wednesday, saying that the Yen is unlikely to weaken further in real effective terms
- The Yen is rallying at the pixel as US Treasuries continue higher and reduce the spread between Treasuries and JGB’s
- USD/CHF: +0.25% to 0.9348
- GBP/USD: +0.13% to 1.5519
- NZD/USD: -0.63% to $0.7006
- The Kiwi got hammered after the RBNZ cut its policy rate by 25 bpts and indicated another cut on the way. The central bank referred to weak demand and low inflation in justifying the cut.
- AUD/USD: +0.23% to 0.7754
- Australia’s economy added 42-K jobs in May, above the consensus, but the Aussie sunk nevertheless in sympathy with the Kiwi
- USD/CAD: +0.11% to 1.2287
Stay tuned…
HeffX-LTN
Paul Ebeling
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