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The market got caught leaning the wrong way. The weakness in April's high-frequency US data encouraged participants to push the US two-year yield to its recent floor near 4.70% and took the 10-year yield to two-month lows, slightly above 4.25%. The Dollar Index was driven below the uptrend line drawn off the December 2023 and March and May 2024 lows. We ...
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It was a big week for the US Dollar in the headlines and the data front, although it may not be as visible on the weekly chart at this point. There were three items from the economic calendar that really stuck out to me, and I think that’ll have some bearing on price action next week as we move into the FOMC meeting on Wednesday. The week began with a ...
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