Production Index improved from -3.2 in September to +14.6 in October as Texas factory activity increased. New Orders Index improved from -5.2 to -3.7, while Capacity Utilization increased from -7.0 to +4.3.
Treasury yields continued to move higher as bond traders reacted to the report. The yield of 2-year Treasuries settled above the 4.12% level, while the yield of 10-year Treasuries climbed above 4.25%.
U.S. Dollar Index is losing some ground despite rising Treasury yields. Currently, U.S. Dollar Index is trying to settle below the 104.20 level. From a big picture point of view, forex traders take some profits off the table near multi-month highs.
Gold is trying to climb back above the $2745 level as traders focus on U.S. dollar’s pullback.
SP500 is moving higher despite the weaker-than-expected…
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