USD Gets Factory and Treasury Boost as EUR PMIs Lower

Rising Treasury yields and a mixed reading on eurozone manufacturing activity helped lift the dollar against major developed countries within the G-10, but it traded lower against several emerging-market rivals.

The yield on the 10-year Treasury touched a seven-week high earlier in the session before retreating slightly, helping to draw investors to the dollar, said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.

The dollar remained higher, but came off its highs from earlier in the global day, as Treasury yields moved lower, Esiner said. The U.S. currency was little-changed after a report showed orders for goods produced at U.S. factories rose 2.1% in March, up from a 0.1% decline in February, but short of expectations for a 2.4% increase, according to a survey of economists conducted by MarketWatch.

via MarketWatch

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza