US Treasuries Up, US Dollar Traded Sideways

Posted by: : Paul EbelingPosted on: March 9, 2015 US Treasuries Up, US Dollar Traded Sideways
 

US Treasuries Up, US Dollar Traded Sideways

The US Treasury complex

  • There were  gainers came in all US Treasury maturities, despite a mid-day sell-off in the 2-yr T-Note
  • Yield check:
    • 2-yr: -4 bpts to 0.69%
    • 5-yr: -4 bpts to 1.65%
    • 10-yr: -5 bpts to 2.20%
    • 30-yr: -5 bpts to 2.80%
  • The ECB began its QE program Monday, which it is running through the Eurozone’s national central banks
    • Yields on Germany and France’s debt plunged, as investors seem to have underestimated the impact of the program
  • In Greece the 10-year yield rose 65 bpts to 9.90%, as Eurozone officials seemed skeptical of Greece’s latest proposal for structural reforms. Greece’s FM Yanis Varoufakis threaten to hold a referendum if the Eurozone did not accept Greece’s proposal.

US Dollar (.DXY) Index

Most currency pairs traded sideways Monday, with the exception of USD/JPY, which rose 42 pips (+0.35%) to 121.24, close to the  December 2014 high at 121.8.

  • EUR/USD traded a fresh 12-yr low overnight at 1.0823, falling 3 pips on the day (-0.03%) to 1.0855
  • GBP/USD rallied back from an awful 1st wk of March, to trade up 88 pips (+0.59%) to 1.5125
  • The commodity currencies maintained a holding pattern:
    • USD/CAD: -33 pips (-0.26%) to 1.2591
    • AUD/USD: -4 pips (-0.05%) to 0.7712
    • NZD/USD: -4 pips (-0.05%) to 0.7374
  • In what may be the market’s biggest shocker this year, USD/CHF has almost entirely unwound its 25-big figure sell-off on 15 January.

Stay tuned…

HeffX-LTN

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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