In trading in Europe, major currencies show mixed performance against the US dollar in narrow ranges. Treasury yields did not change much, ranging from 1.675% to 1.705%.
At the beginning of the European session, the EUR / USD pair dropped to 1.2051. After the release of data on the US PPI and the number of jobless claims, the yield fell to 1.68%. Futures on US stock indices went up. Against this background, major currencies are winning back losses, moving into positive territory. The euro recovered to 1.2094, the pound to 1.4052.
Fed's Barkin plans to speak after yesterday's surprise CPI. The US Treasury will complete auctions today to refinance $ 27 billion 30-year bonds. Yesterday they were successful in an auction of 10-year bonds with high demand for this issue. The dynamics of long-term bonds is the main factor for the foreign exchange market. With an increase in profitability, the dollar rises in price, with a decrease, it becomes cheaper.
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