Dollar Index Continues To Slide
Friday’s economic news
was a mixed bag for traders. The Trade Deficit unexpectedly narrowed in March
Treasuries declined after the reports, sending yields to multi-year highs. The
10-yr T-note yield ended the week at 5.186% and the 5-yr T-note yield closed at
The US Dollar Index extended its losses, with the Dollar falling heavily against
the Swiss Franc, Euro and Yen. The Dollar hit a new one-year low versus the Euro
and eight-month low versus the Yen.
The metals pulled back after hitting new contract highs yesterday. June Gold
futures closed the week at $711.8. Silver -4.72%, Copper -1.65% and Aluminum
-2.12% also closed lower.
Energy prices slide
June Crude Oil futures fell on Friday, closing
the week at $72.04. Unleaded Gas, Heating Oil and Natural Gas also closed lower.
Natural Gas continued to be the weakest, with the June contract declining by
All the softs closed lower except for Cotton +1.44%.
Most of the grains rose, with only the Soybean complex weak.
Trade Deficit Narrows To $62 Bln. In March (report)
Import Prices Up 2.1% In April (report)
US May Michigan Consumer Sentiment Index At 79.0
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