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What I am Watching Today: Yields Rising, Euro Sinking, Aussie Stuck, and Copper Noisy

What I am Watching Today: Yields Rising, Euro Sinking, Aussie Stuck, and Copper Noisy

By: 
Christopher Lewis

Hot U.S. inflation pressures EUR/USD and AUD/USD as elevated yields support the dollar, while copper pullbacks toward $6.60 remain potential buying opportunities.

US02Y vs the CPI Report

US 2-year Treasury yield daily chart showing an upward trend toward 4.90%, above both exponential moving averages.
US 2-year Treasury yields consolidate near 4.90%, remaining above the 4.58% and 4.16% EMAs.

U.S. 2-year Treasury yields remain elevated as a clear link between the CPI number and the broader market outlook persists. Treasury’s latest published data observation puts the 2-year par yield at 4.79% yesterday, compared with 4.8% on October 9, but that will be rapidly changing today.