US Dollar Flat, US Treasuries Flat

Posted by: : Paul EbelingPosted on: January 26, 2015 US Dollar Flat, US Treasuries Flat

Treasuries Flat, Dollar Flat

10-Yr: -01/32..1.805%.. USD/JPY: 118.35.. EUR/USD: 1.1275

Afternoon Update

US Treasury Complex

2Y -01/32 at 100 06/32

3Y -01/32 at 99 31/32

5Y -02/32 at 101 12/32

7Y -02/32 at 103 08/32

10Y -01/32 at 103 30/32

30Y Unch at 113 08/32


US Dollar (.DXY) index

EUR/USD: 1.1275 (flat to little changed)

GBP/USD +95 pips at  1.5085

USD/JPY +60 pips at 118.35

USD/CHF +200 pips at .8990

AUD/USD +20 pips at .7925

USD/CAD +10 pips at 1.2430


The US Dollar Index drifts little changed near 94.75.

  • EUR/USD is +75 pips at 1.1275 buyers emerge for the first time in three sessions. Euro pressed to a fresh 11-yr low below 1.1100 after the anti-austerity Syriza party took the Greek election and managed to form a coalition government. Then trade reversed as the results were already priced in and Germany’s Ifo business showed improvement Vs the prior reading.
  • GBP/USD is +110 pips at 1.5100 trade climbs off its worst marks since July 2013. The psych mark at 1.5000 remains in focus as Britain’s Preliminary GDP and BBA Mortgage Approvals are due out Tuesday.
  • USD/CHF is +200 pips at .8990 trade rallied to its best marks since the surprise Swiss National Bank (SNB) announcement on 15 January. The 200-Day MA at .9280 may provide some resistance.
  • USD/JPY is +70 pips at 118.45 trade remains  in the tight range that has been in place over the past week. The pair has seen little response  to the latest Bank of Japan minutes, which showed policymakers are in no hurry to implement further easing.

US Treasuries post small losses

The US Treasury  complex opened firm after the anti-austerity Syriza party won the Greek election, but gave back its gains during the day.

  • Up front, the 2Y ticked up +2bpts to 52bps. This area remains in focus as it has acted as a pivot since June.
  • In the belly of the curve, the 5Y added +2.6bpts to 1.350%. Monday’s action caused the yield to climb for the 5th time in 6 days, and has the yield 20bpts off the 16  January low.
  • The 10Y edged up +1.1bps to 1.828%. The benchmark yield withstood yet another test of support in the 1.800% area.
  • Light selling at the long end caused the 30Y to add +0.4bpts to 2.398%. The yield on the long bond narrowly missed an all-time closing low.
  • Little change along the yield curve saw the 2-10-yr spread hold near 131bpts.

Stay tuned…


Paul Ebeling


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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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