US Dollar Index
After declining for five consecutive trading weeks, the US Dollar Index opened lower on Monday. In the early hours on Monday, the US Dollar Index is trading above opening prices with mixed sentiment.
The market sentiment was mixed last week amid the improved economic outlook due to supporting jobs data and concerns about the government’s stability. On Monday, the market opened the day with mixed sentient. However, concerns about the US government shutdown didn’t bring the prices down. The market is looking forward to the stopgap vote that’s scheduled for 12:00 PM EST today. It should provide clarity about how long the government shutdown will last.
At 4:55 AM EST on January 22, the US Dollar Index was trading at 90.50—a drop of 0.08%.
US Treasury yields
After trading with strength for three consecutive trading weeks, US Treasury yields started this week on a stronger note. The improved global economic outlook boosted Treasury yields and pushed the ten-year Treasury note to 3.5-year high price levels.
Below are the movements in Treasury yields as of 5:00 AM EST on January 22:
- The ten-year Treasury yield was trading at 2.930—a rise of ~0.61%.
- The 30-year Treasury yield was trading at 2.654—a rise of ~0.56%.
- The five-year Treasury yield was trading at 2.449—a rise of ~0.55%.
- The two-year Treasury yield was trading at 2.073—a rise of ~0.6%.
The iShares 20+ Year Treasury Bond (TLT) fell 0.53%. The ProShares UltraPro Short 20+ Year Treasury (TTT) and the ProShares UltraShort 20+ Year Treasury (TBT) rose 1.6% and 1.1%, respectively, on January 19.
After falling for two consecutive trading weeks, Bitcoin carried forward the weakness and started this week on a weaker note. The risk appetite declined amid plans of increased regulations on cryptocurrencies by Asian countries like South Korea and China. At 5:05 AM EST, the Bitcoin-US Dollar contract was trading at $ 11,723.0—a drop of 0.14%.
Next, we’ll discuss how commodities performed in the early hours on January 22.