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Pre-Market Report: Global Markets Are Mixed on November 30

PART:
1 2 3 4 5 6
Part 5
Pre-Market Report: Global Markets Are Mixed on November 30 PART 5 OF 6

US Dollar and Treasury Yields Are Stronger Early on November 30

US dollar

  • After a failed attempt to recover on November 29, the US dollar is stable in the early hours on November 30.
  • The PowerShares DB US Dollar Bullish (UUP) fell 0.25% to 26.11 on November 29.
  • The market is waiting for the outcome of OPEC’s meeting in Vienna. It’s tentatively scheduled for 8:30 AM EST on November 30.
  • The dollar regained some strength due to upbeat US third-quarter GDP data and consumer confidence data released on November 29.
  • According to the data released by the U.S. Bureau of Economic Analysis, the third quarter US GDP, a measure of economic activity, rose 3.2%. The market expected 3% growth.
  • The Conference Board reported the US CB Consumer Confidence for November as 107.1. It’s better than the market’s expectation of 101.2.
  • The chances of an interest rate hike rose after the release of November’s meeting minutes last week.

US Dollar and Treasury Yields Are Stronger Early on November 30

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US Treasury yields

  • After pulling back on November 29, the US Treasury yields regained strength in the early hours on November 30.
  • The fall in oil’s price on November 29 also weighed on US Treasury yields.
  • Stronger US CB Consumer Confidence data along with US third quarter GDP improved the sentiment.
  • At 5:25 AM EST on November 30, the 30-year Treasury yield was trading at 2.32—a gain of ~0.93%.
  • The ten-year Treasury yield was trading at 2.97—a gain of ~0.59%.
  • The five-year Treasury yield was trading at 1.11—gain of ~1.5%.
  • The two-year Treasury yield was trading at 1.81—a gain of ~1.7%.
  • The iShares 20+ Year Treasury Bond (TLT) rose 0.42%, while the ProShares UltraPro Short 20+ Year Treasury (TTT) and the ProShares UltraShort 20+ Year Treasury (TBT) fell 1.1% and 0.83%, respectively, on November 29.

In the next part, we’ll discuss how copper, gold, silver, platinum, and palladium performed in the early hours on November 30.

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