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US Dollar Index and Treasury Yields in the Early Hours

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Updated

US Dollar Index

After gaining for three consecutive trading weeks, the US Dollar Index pulled back on Monday and started this week on a weaker note. The US Dollar Index regained stability and traded above opening prices in the early hours on Tuesday.

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Market sentiment

The market sentiment on the US Dollar Index weakened after the release of mixed jobs data on Friday. According to the data, non-form payrolls surged to 313,000 in February, which is better than the forecast of 200,000. Wage growth slowed down from 0.2% to 0.1% in February and made the US Dollar Index’s movements choppy. On Tuesday, the market is looking forward to the release of February’s US core consumer price index. The index is scheduled to be released at 8:30 AM EST today.

At 5:00 AM EST on March 13, the US Dollar Index was trading at 90.02—a gain of 0.13%.

US Treasury yields

After closing last week higher following the jobs data, US Treasury yields pulled back on Monday. Decreased demand for three-year and six-month bill actions on Monday weighed on Treasury yields. The Treasury yields are stable in the early hours on Tuesday.

Below are the movements in Treasury yields as of 5:05 AM EST on March 13.

  • The ten-year Treasury yield was trading at 2.883—a gain of ~0.45%.
  • The 30-year Treasury yield was trading at 3.145—a gain of ~0.51%.
  • The five-year Treasury yield was trading at 2.648—a gain of ~0.45%.
  • The two-year Treasury yield was trading at 2.270—a gain of ~0.19%.

The iShares 20+ Year Treasury Bond (TLT) rose 0.58%. The ProShares UltraPro Short 20+ Year Treasury (TTT) and the ProShares UltraShort 20+ Year Treasury (TBT) fell 1.6% and 1.2%, respectively, on March 12.

Bitcoin

Bitcoin started this week on a weaker note following the strong pullback last week. Bitcoin lost strength amid concerns about increased regulations on cryptocurrency regulators and traders. At 5:10 AM EST, the Bitcoin-US Dollar contract was trading at $9,201.0—a drop of 3.7%.

Next, we’ll discuss how commodities performed in the early hours on March 13.

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