US Dollar Index

After a brief pullback last week, the US Dollar Index started this week on a stronger note by closing higher on Monday. Carrying forward the strength, the US Dollar Index opened Tuesday on a stable note. The US Dollar Index was trading with strength in the early hours.

US Dollar Index Is Stable, US Treasury Yields Pulled Back

Market sentiment

The US Dollar Index fell at the end of last week and over the weekend amid comments from President Trump. President Trump criticized the Fed about raising interest rates gradually, which could take away the country’s competitive edge and hurt the economy. President Trump also accused the European Union and China of manipulating their currencies. However, the US Dollar Index rose on Monday amid a strong rally in Treasury yields. On Tuesday, the US Dollar Index is stable ahead of the release of July’s US manufacturing and services PMI data.

At 5:45 AM EST on July 24, the US Dollar Index was trading at 94.65—a drop of 0.02%.

US Treasury yields

US Treasury yields closed higher last week. On Monday, US Treasury yields moved higher amid expectations that the Fed would continue increasing the interest rates despite criticism from President Trump. US Treasury yields pulled back in the early hours on Tuesday. The market is awaiting the auction of four-week bills and two-year notes today.

Below are the movements in Treasury yields as of 5:50 AM EST on July 24.

  • The ten-year Treasury yield was trading at 2.950—a fall of ~0.49%.
  • The 30-year Treasury yield was trading at 3.085—a fall of ~0.57%.
  • The five-year Treasury yield was trading at 2.816—a fall of ~0.35%.
  • The two-year Treasury yield was trading at 2.629—a fall of ~0.16%.

The iShares 20+ Year Treasury Bond (TLT) fell 1.23%. The ProShares UltraShort 20+ Year Treasury (TBT) and the ProShares UltraPro Short 20+ Year Treasury (TTT) rose 2.39% and 3.63%, respectively, on Monday.

Next, we’ll discuss how commodities performed in the early hours on July 24.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.