Invesco Db Dlr Idx Bearish ETF

The U.S. 20-year Treasury auction ended poorly, with the 20-year Treasury yield breaking 5% and the 10-year Treasury yield surpassing 4.5%, advancing to 4.6%. The outcome aligns with Dolphin Research's analysis in the weekly strategy report: once the 10-year Treasury yield exceeds 4.5% and continues to rise, U.S. stocks follow with a correction. Regarding the surge in Treasury yields, Dolphin Research also noted in the report that while Trump claims to be a fiscal hawk, his tax cuts ultimately result in significant deficit policies.This means the deficit issues from the pandemic-era stimulus remain unresolved, and the federal government is adding more debt. The lack of market confidence naturally led to lower auction prices for U.S. Treasuries. Meanwhile, strange developments are occurring with Japanese bonds: Japan was the largest holder of U.S. Treasuries, but now Japan and the U.S. are negotiating, with the U.S. pushing for yen appreciation. From a trading perspective, yen appreciation against the dollar would expose Japanese private institutions holding U.S. Treasuries to exchange rate risks. Japanese insurers, similar to those in Taiwan, previously did not hedge against currency risks during the dual rise of the dollar and dollar-denominated assets. Thus, the optimal move during yen appreciation is to repatriate funds: sell U.S. Treasuries and buy Japanese bonds.However, the latest news indicates the negotiations failed, meaning trades based on expected agreements must now be unwound—buying U.S. Treasuries and selling yen. The result is a yen correction and rising Japanese bond yields.$VG Long-Term(BLV.US), $ProShares Shrt QQQ(PSQ.US), $SPDR Gold Shares(GLD.US), $Currencyshares JPY Trust(FXY.US), $Invesco Db Dlr Idx Bearish ETF(UDN.US)Additional note: Overseas creditors hold about 30% of U.S. Treasuries, with over 15% held by foreign private institutions rather than official entities. Japanese private institutions hold an even larger share, giving them greater pricing power in Treasury transactions than official entities.<figure class="image"></figure>The chart shows Japan was indeed selling U.S. Treasuries in April, but by the week of May 17, it had shifted to net buying. In other words, without Japanese buyers, Treasury yields might have risen even higher. If Japan and the U.S. eventually reach a trade agreement and the yen appreciates, Japanese buyers may further sell U.S. Treasuries.<figure class="image"></figure> The weakening trend of the dollar is certain in this process. If the U.S. continues large-scale Treasury financing under these conditions, it’s no surprise that investors are betting on the 10-year Treasury yield soaring to 5%.Reference: &#34;Big but Ugly&#34; = &#34;Big Deficit&#34;: Will U.S. Stocks Suffer Again Due to Treasuries? https://longportapp.cn/zh-CN/topics/29808412

“大而美”=“大赤字”，美股又要被美债连累了？ - LongPort

VG Long-Term

ProShares Shrt QQQ

Currencyshares JPY Trust

SPDR Gold Shares

US April Non-Farm Payrolls Expected to Drop Sharply

China's Foreign Exchange Reserves Rose to $341.05 Billion by End of April 2026

Dollar Index Decline Drives Related Currency Pairs' Exchange Rate Changes

Chris Turner Analyzes Possible Impact of Kevin Warsh Nomination on the Dollar

US Dollar Index Fluctuates and Slightly Declines

US PPI data release causes continued decline in USD index

Possible US-Iran Peace Talks Cause Dollar to Fall

February Employment Data Down, US Dollar Falters

Dollar Extends Losses During Trump's Speech

Speculators' Short Position in USD Reaches New High Since 2021

US dollar falls ahead of non-farm payroll report

DXY Continues to Fall, Intraday Decline Expands to 0.7%

Private Sector Adds 22,000 Jobs in January, Below Expectations; Dollar Weakens

Dollar Faces Worst Plunge in Nearly Four Years

US President Trump Imposes 10% Tariffs on 8 Countries Supporting Denmark Over Greenland Sovereignty, US Dollar Weakens

InMed Pharmaceuticals

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

Amesite

CN Energy

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

NextNRG

Meiwu Tech

Generation Income Properties

MetaVia

OceanPal

USDU

On May 20, the key FX option expiry to note is for EUR/USD at the 1.1600 level. While it lacks technical significance, it may influence price action in European trading. Current market sentiment is driven by risk and dollar dynamics, particularly related to US-Iran developments. Higher oil prices and bond yields are pressuring risk trades, benefiting the dollar. EUR/USD is experiencing a technical break lower, with six losses in seven days. The expiries board appears subdued for now.

Investinglive

Invesco DB US Dollar Index Bullish Fund

Wtree Bbg Usd Bull

FX option expiries for 20 May 10am New York cut

The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. more to come

PBOC sets USD/ CNY central rate at 6.8397 (vs. estimate at 6.8072)

SNEX

The dollar is still in a solid uptrend against the yen, but two-way volatility is rising, based on the one-hour chart, StoneX said.

StoneX

Pro Ultr Yen

Pro Ultrshrt Yen

Dollar in solid uptrend vs. yen, but volatility rising

The U.S. dollar rose against the Vietnamese dong, with Vietcombank selling it at VND26,389, and the black market rate at VND26,530. The dollar found global support after President Trump paused a planned attack on Iran, stabilizing bond markets. The U.S. dollar index remained steady at 99.026, recovering from a previous decline as fears of war escalation eased.

vnexpress

Thomson Reuters

Westpac Banking

Dollar inches up against dong

The USD/CAD outlook appears bearish as recent Canadian inflation data undershot expectations, raising doubts about the Bank of Canada's potential rate hikes. Despite a strong US dollar, USD/CAD has shown topping signals, with resistance at 1.3750. Economic momentum favors the USD, as Canadian data continues to underperform compared to the US. The unique structure of USD/CAD suggests it is less influenced by macroeconomic factors, leading to a focus on recent price action rather than fundamental explanations.

Forex

Currencyshares Canadian Dollar Trust

S&P 500

USD/CAD Outlook: Bearish Price Action Throws Doubt on Bullish Macro Case

The dollar gained 0.16% against the Japanese yen, reaching 159.09 yen per dollar. This marks the seventh consecutive session of gains, totaling a 1.54% increase over this period. The dollar is up 11.59% from its 52-week low and 10.09% year-over-year. It is currently 0.84% off its 52-week high. Month-to-date, the dollar has risen 1.58%. This is the longest winning streak since October 2025.

MorningStar

Dollar Gains 0.16% to 159.09 Yen — Data Talk

The WSJ Dollar Index rose 0.35% — up six of the past seven trading days.

The WSJ Dollar Index rises 0.35% to 95.99

The Canadian dollar has weakened against the US dollar, with USD/CAD gaining about 0.3% recently. Canadian CPI data for April was below expectations at 2.8%, indicating no immediate inflation concerns. The Bank of Canada maintains a neutral stance on interest rates, while US Treasury yields rise, making US investments more attractive. This dynamic may continue to pressure the Canadian dollar. The USD/CAD remains in a sideways range, with key resistance at 1.39215 and bullish momentum indicated by RSI and MACD.

USD/CAD Forecast: Canadian dollar loses ground after CPI release

Warsh's remarks raise concerns about the Federal Reserve's independence in international operations, suggesting a need for closer coordination with the White House and Congress. Central bankers warn that politicizing dollar liquidity could lead to market turbulence and a decline in the dollar's global standing. While no immediate changes are anticipated, policymakers are seeking clarification on Warsh's position.

Warsh’s remarks stir concern over Fed’s global crisis role

The dollar turned slightly higher. The Revacy Fund said the lack of clarity around diplomatic progress in the Middle East and the risk of renewed escalation are keeping markets cautious.

Dollar turns higher as markets stay cautious