Squawk / 11 October 2016 at 11:43 GMT
Blogger / MoreLiver's Daily
Higher USD-yields are finally pushing the USD stronger.

December rate hike probability implied by futures is now around 70% (up from the recent 50-60%).

1) EURUSD broke out from the descending triangle and seems set to reach 1.0950-1.1100 area next.

2) Long-term (2004-2016) chart of 10-year US Treasury yields shows we reached the 2012 low, but are now turning higher. Previously the yield has occasionally risen a lot and quickly despite the down trend.

3) 2013-2016 chart suggests the yield might be going through something similar to the first half of 2015.

4) 6-month chart shows the yield is right now probably near short-term highs. The current apparent breakout above the September-high is just as meaningless as the September breakout above the summer highs was.

Story thus unchanged from https://www.tradingfloor.com/posts/us-jobs-preview-solid-report-expected-with-december-rate-hike-looming-8120472


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