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US Dollar Index and Treasury Yields Are Slightly Weaker

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US Dollar Index

Following a strong performance for three consecutive trading weeks, the US Dollar Index started this week on a weaker note and declined as the week progressed. On Thursday, the US Dollar Index started the day on a stable note and consolidated above opening prices in the early hours.

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Market sentiment

The US Dollar Index declined on Wednesday following the release of weaker-than-expected retail sales data, which declined 0.1% in February. The prices regained stability amid closing short positions on Wednesday. On Thursday, the US Dollar Index is mixed. However, the sentiment is weak amid political uncertainty and trade war concerns. The market is looking forward to the release of initial jobless claims data. The data are scheduled to be released at 8:30 AM EST on March 15.

At 5:00 AM EST on March 15, the US Dollar Index was trading at 89.74—a gain of 0.01%.

US Treasury yields

After declining for three days, US Treasury yields are slightly weak in the early hours on March 15. The release of weaker-than-expected retail sales data weighed on Treasury yields.

Below are the movements in Treasury yields as of 5:00 AM EST on March 15.

  • The ten-year Treasury yield was trading at 2.819—a gain of ~0.07%.
  • The 30-year Treasury yield was trading at 3.058—a drop of ~0.04%.
  • The five-year Treasury yield was trading at 2.605—a drop of ~0.13%.
  • The two-year Treasury yield was trading at 2.258—a drop of ~0.18%.

The iShares 20+ Year Treasury Bond (TLT) rose 0.88%. The ProShares UltraPro Short 20+ Year Treasury (TTT) and the ProShares UltraShort 20+ Year Treasury (TBT) fell 2.5% and 1.7%, respectively, on March 14.

Bitcoin

After a strong pullback last week, Bitcoin started this week on a weaker note and declined as the week progressed. The selling pressure in Bitcoin increased on Thursday amid increased weakness across all of the major cryptocurrencies. At 5:10 AM EST, the Bitcoin-US Dollar contract was trading at $8,150.0—a drop of 10.5%.

Next, we’ll discuss how commodities performed in the early hours on March 15.

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