Dollar Index Ends 11-Day Slide

traded in a rather narrow range as the market settled down after Friday’s jobs
report. Prices closed modestly lower, yields higher. The government is scheduled
to issue $34 Bln in bonds this week and the Fed meets on Wednesday.

According to the CBOT, Fed Funds futures are pricing in a 100% probability of
+25 bps — 91% for +25 bps versus 9% for +50 bps.

The US Dollar Index closed higher, ending an eleven day slide. The Dollar was
boosted by gains versus the Euro, AUD, GBP, CAD and Swiss Franc. However, the
Yen climbed to an eight month high against the Dollar.

Crude Oil futures closed slightly lower, despite trading lower by almost a $1
earlier in the session. Unleaded Gas was the biggest faller among the energies,
Heating Oil and Natural Gas closed flat.

In the softs, Orange Juice +2.21% and Cotton +1.52% were the best performers.
Sugar -1.32 was the only notable faller.

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Ashton Dorkins

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