We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • RT @onlyyoontv: Chinese experts who follow #trade talks tell me 1) #China side would want Dec 15 tariffs canceled as minimum pre-condition…
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.02%, while traders in US 500 are at opposite extremes with 75.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/UCu5dfPDHl
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (DEC 6) due at 12:00 GMT (15min), Actual: N/A Expected: N/A Previous: -9.2% https://www.dailyfx.com/economic-calendar#2019-12-11
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Gold: 0.19% Silver: 0.02% Oil - US Crude: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UCIceROqmN
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.44% 🇳🇿NZD: 0.07% 🇯🇵JPY: 0.05% 🇨🇦CAD: -0.03% 🇨🇭CHF: -0.07% 🇪🇺EUR: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/XqqrrlWAgH
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.20% US 500: 0.05% Wall Street: -0.00% France 40: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/32XnoceiRU
  • GBP/USD Faces a Risk of Reversal -British Pound to USD Price Forecast More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/12/11/GBPUSD-Faces-a-Risk-of-Reversal-British-Pound-to-USD-Price-Forecast-MK.html?CHID=9&QPID=917714 https://t.co/LsgLV9vBZ1
  • Final YouGov MRP Poll update $GBP https://t.co/vf9SsVARYo
  • LIVE IN 30 MIN: Join Currency Strategist @PaulRobinsonFX as he discusses important technical developments relevant to short to intermediate-term commodity and equity index traders. Register here: https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720
  • USD/JPY Outlook Hints at Drop, Nikkei 225 May Join It - https://www.dailyfx.com/forex/technical/article/special_report/2019/12/11/USDJPY-Outlook-Hints-at-Drop-Nikkei-225-May-Join-It.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #USDJPY #technicalanalysis https://t.co/nFYCnCoIeX
Treasury Yields Fall As ISM Services Index Comes In Softer Than Expected

Treasury Yields Fall As ISM Services Index Comes In Softer Than Expected

2019-07-03 15:35:00
Thomas Westwater,
Share:

US Treasury Yields Drop on ADP Employment & ISM Services Index

  • Although the economic data missed analyst expectations, the non-manufacturing sector and labor market continues to grow
  • Trade conflict and tariffs continue to be a noted concern among survey respondents
  • Treasury yields drop on the weak data with the 10-year slipping to its lowest level since November 2016

The latest report from the Institute of Supply Management (ISM) released their report on the Non-manufacturing industries Wednesday morning, which showed that the services sector continues to growdespite missing market expectations. The headline figure came in at 55.1, slightly under expectations of 56.0 and falling from last month’s reading of 56.9, and points to slower growth in the largest portion of the US economy.

US Treasury Yields fell on the release as the disappointing figures contributed to weak economic data also released this morning, including ADP employment figures that came in soft. Market participants could be taking this as bolstering the Federal Reserve’s case to cut interest rates, a theme that has been driving the market in recent months. The market is pricing in a 100 percent chance of a rate cut for July’s meeting according to overnight swaps.

CBOE 30-Year Treasury Yield (TYX): 3 – Minute Time Frame (July 3 Intraday)

TYX

June’s reading reflects continued softening in the sector but still expanding reflected by the reading coming in over 50.0. Contributing to weakness in the headline figure was a decrease in business activity, new orders, and employment compared to the month prior. Prices saw a rise for the 25th consecutive month which is likely due to tariffs and noted as a concern by ISM survey respondents. Although, one participant noted some suppliers are using the trade issue to “provide cover to increase margins.”

--Written by Thomas Westwater, Intern Analyst for DailyFX.com

Contact and follow Thomas on Twitter @FxWestwater

DailyFX forecasts on a variety of currencies such as the US Dollar or the Euro are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.