USD pairs: Treasury yields stay key pressure point after weak 29k NFP
The source reports no currency price moves, pip figures or technical levels. Its focus is the US bond market, which the author argues remains the main pressure point for traders this week despite Friday's softer US jobs report. The September non-farm payrolls report showed a rise of just 29k jobs, well below expectations. The weak reading gave markets some relief heading into the weekend. Benchmark 10-year Treasury yields initially fell on the release, dipping to a low of 5.16%. The author does not see the jobs data as changing the broader picture, with bond yields still the key driver to monitor. For USD traders, the takeaway is that Treasury yield behaviour, rather than the soft payrolls figure alone, may be the more important influence on dollar-sensitive markets in the days ahead. That makes moves in the 10-year yield a key factor to watch.
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