US market wrap: DXY up 0.4% on a risk-on day - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: US equities nudged higher, the S&P500 up 0.1% to a fresh record high.US bond yields also nudged higher, and the US dollar had a decent bounce.

Interest rates: US 10yr treasury yields eked a slightly higher range of 2.46%-2.49% - the latter the highest since 26 Dec. Short-maturities yields remained steady, 2yr treasury yields ranging between 1.95% and 1.97%. Fed fund futures priced the chance of another rate hike in March at 63%.

Currencies: The US dollar index is up 0.4% on the day. EUR performed poorly, falling from 1.2040 to 1.1959 – the lowest since 29 Dec. USD/JPY fluctuated between 112.90 and 113.40, currently mid-range. 

AUD retreated as the USD gained, falling from 0.7870 to 0.7827. NZD outperformed, maintaining an elevated range of 0.7156-0.7184. AUD/NZD fell from 1.0940 to 1.0912, despite iron ore futures rising to multi-month highs yesterday."