US Dollar Index and Treasury Yields Early on January 8

US Dollar Index

After falling for three consecutive trading weeks, the US Dollar Index started this week with improved strength. The US Dollar Index opened January 8 on a stronger note and traded at one-week high price levels in the early hours.

US Dollar Index and Treasury Yields Early on January 8

The US Dollar Index started last week on a weaker note but regained stability after the release of the FOMC’s meeting minutes and upbeat manufacturing data. Softer-than-expected US non-farm payrolls data released on Friday didn’t lower the expectations about the pace of interest rate hikes in 2018. Amid the improved global market sentiment, the US Dollar Index is trading with strength today. The market is looking forward to speeches from FOMC members today.

At 4:20 AM EST on January 8, the US Dollar Index was trading at 92.25—a gain of 0.32%.

US Treasury yields

The US Treasury yields regained stability last week and closed the week with gains. Treasury yields started this week on a mixed note and consolidated in the early hours on Monday.

Below are the movements in Treasury yields as of 4:25 AM EST on January 8:

  • The ten-year Treasury yield was trading at 2.476—a rise of ~0.01%.
  • The 30-year Treasury yield was trading at 2.805—a drop of ~0.18%.
  • The five-year Treasury yield was trading at 2.287—a rise of ~0.09%.
  • The two-year Treasury yield was trading at 1.964—a rise of ~0.2%.

The iShares 20+ Year Treasury Bond (TLT) rose 0.93%. The ProShares UltraPro Short 20+ Year Treasury (TTT) fell 0.29% and the ProShares UltraShort 20+ Year Treasury (TBT) rose 0.61% on January 5.

Bitcoin

After rising last week, bitcoin started this week on a weaker note amid the dented market sentiment. Although bitcoin’s outlook is bullish in 2018, reports about China’s steps to limit bitcoin mining to “orderly exit” from the business dented the sentiment. At 4:30 AM EST, the bitcoin-US dollar contract was trading at $ 15,218.0—a fall of 9.31%.

Next, we’ll discuss how commodities performed in the early hours on January 8.