Trial now
USDCAD TECHS

Key Resistance Is At 1.2203

AUDUSD TECHS

Still Range-Bound

US TSYS SUMMARY

Decent Action on Narrow Range Ahead Wed's FOMC

EURJPY TECHS

Corrective Cycle Still In Play

Haggling Over The Federal Spending Bill

US TSYS SUMMARY

USTs lacked direction through the session and trade marginally below yesterday's closing levels.

  • The UST curve has steepened on the back of the longer end trading weaker. Last yields: 2-year 0.121%, 5-year 0.3782%, 10-year 0.9429%, 30-year 1.6925%.
  • TYH1 trades at 137-25, towards the bottom end of the day's range (L: 137-23+ / H: 137-30+)
  • Congress continues to debate the terms of a federal spending bill with Republican Pat Toomey pushed to include a provision that would limit the Federal Reserve's pandemic-related lending.
  • The Fed's Kaplan stated that purchasing bonds for too long could bring financial stability risks. Meanwhile, Richard Clarida suggested that while the economic recovery had someway to go, he does think there will be a double-dip recession.
  • Vice President Mike Pence received the Covid vaccine today with President-elect Joe Biden reportedly following suit on Monday.
MNI London Bureau | +44 0203-865-3808 | bruce.jeffery@marketnews.com