Why The Yen Bucked The Trend In Today’s Currency Markets
The markets repeated
yesterday’s price action, as Treasuries and equities were again lower.
Equity
The Nasdaq
future
(
NDU3 |
Quote |
Chart |
News |
PowerRating) was down 3.00 to close at 1295.00. The S&P 500 contract
(
SPU3 |
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News |
PowerRating) was down 5.80 at 995.10, and the Dow
(
DJU3 |
Quote |
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News |
PowerRating) was down 27 at
9088.
Fixed Income
Although U.S. Treasuries finished down for the day, they were
well off their lows. The 10 year futures
contract
(
TYU3 |
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Chart |
News |
PowerRating) was down -090 to close at 114-235; the 30 year
(
USU3 |
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Chart |
News |
PowerRating)
was down -01 at 112-14; and the five year note was down -070 at 113-90.
(
FVU3 |
Quote |
Chart |
News |
PowerRating).
Metals
August gold
(
GCQ3 |
Quote |
Chart |
News |
PowerRating) was up 1 in reaction to a
weaker dollar, closing at
343.20. Silver
(
SIN3 |
Quote |
Chart |
News |
PowerRating) was down .50 at 4.663. Copper was
down .10
at 79.30
(
HGU03 |
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Chart |
News |
PowerRating), and aluminum
(
ALN03 |
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Chart |
News |
PowerRating) was unchanged at
.6600.
Energy
August crude
(
CL03Q |
Quote |
Chart |
News |
PowerRating) oil was down by .57 to
close at 31.05. Natural gas was down by .086 at 4.934
(
NG03Q |
Quote |
Chart |
News |
PowerRating).
Currencies
The USD index
(
DX03M |
Quote |
Chart |
News |
PowerRating) was down .22 to close
at 97.00 on profit taking. However, the greenback was higher against the yen for
the day amid speculation that the Bank of Japan would intervene in the currency
markets to weaken its currency.