Daily digest market movers: DXY holds gains after mid-tier data
- Durable Goods Orders reported a 2.6% increase in March, albeit with the previous surge of 1.3% significantly revised to 0.7%.
- Orders Excluding Transport posted a rise to 0.2%, reversing a revised decrease from 0.3% to just 0.1%.
- Fed’s present stance on monetary policy implies that easing expectations remain low and steady. The market forecasts low chances for a rate cut in the upcoming June meeting, while July sees a diminished likelihood at 45%. By September, a rate cut still isn't entirely anticipated with probabilities reduced to 90%.
- US Treasury bond yields showcase a mixed tendency. The two-year bond yield is seen at 4.93%, the 2-year yield at 4.66%, and the 10-year bond yield stands at 4.65%. Despite the mixed movement in yields on Wednesday, increasing US Treasury yields generally support Greenback strength.
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