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US Treasuries await the Retail Sales report

FXStreet (Mumbai) - The US Treasury yields have recovered marginally today, although the underlying tone remains weak ahead of the monthly retail sales report in the US.

The ten-year treasury yield is trading at 2.21, while the two-year treasury yield is trading at 0.376. The ten-year yield recovered from a low of 2.176 yesterday tracking modest gains in the US Equities. However, the equities erased the entire gains to end flat yesterday, thereby capping a further rise in the treasury yields.

The Advance retail sales report due today in the US will be watched out by markets as a reassurance that the US economy in on track amid the global economic slowdown. The Treasury yields may fall below 2.176 levels today if the retail sales report paints a gloomy picture.

Ten-year Treasury yield Technical levels
The yield has an immediate resistance of 2.264, above which the yield can rise to 2.27 (Oct 9 low). On the flip side, yields can fall to 2.14 levels if the yesterday’s low of 2.176 is breached.

DAX trades marginally higher

The German equity markets have gained marginally so far, tracking the strength in the Asian equity markets. The rise may remain capped as the US Equity markets ended flat yesterday, erasing their early gains.
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