Morning Call For June 29, 2015

Sep 10-year T-notes (ZNU15 +0.75%) this morning are up +1-05/32 points at a 3-1/2 week high. Friday's closes: TYU5 -18.00, FVU5 -8.50. Sep 10-year T-note futures prices on Friday fell to a 9-month nearest-futures low and closed lower. The main bearish factor was the stronger-than-expected Jun University of Michigan U.S. consumer sentiment report, which bolstered the case for a Fed interest rate increase sooner rather than later.

The dollar index (DXY00 +0.16%) this morning is up +0.100 (+0.10%) at a 3-week high. EUR/USD (^EURUSD) is down -0.0051 (-0.4%) at a 3-week low. USD/JPY (^USDJPY) is down -1.01 (-0.82%) at a 1-month low. Friday's closes: Dollar Index +0.285 (+0.30%), EUR/USD -0.00413 (-0.37%), USD/JPY +0.204 (+0.17%). The dollar index on Friday rallied to a 2-week high and closed higher on (1) the larger-than-expected increase in the Jun U.S. consumer sentiment index to a 5-month high, and (2) weakness in EUR/USD which fell to a 2-week low as the unresolved Greek debt crisis increased the risk of a Greek default.

Aug WTI crude oil (CLQ15 -2.23%) this morning is down -$1.42 a brrrel (-2.38%) at a 3-week low. Aug gasoline (RBQ15 -1.31%) is down -0.0336 (-1.66%). Friday's closes: CLQ5 -0.07 (-0.12%), RBQ5 +0.0077 (+0.38%). Aug crude oil and gasoline settled mixed Friday with Aug crude at a 2-week low. Negative factors included the rally in the dollar index to a 2-week high and concern that the U.S. crude oil supply glut will persist with U.S. crude oil inventories 84 million bbl above the 5-year average for this time of year.

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