The major US stock indices are giving up their gains. The S&P index is up 0.27% the NASDAQ index is up only 0.04%. The Dow industrial average is up 0.38%.
The S&P is moving closer to its 100 hour moving average at 3666.69. The low price reached 3686.52. Him
US yields have moved higher. The 2 year yield is now up 1 basis point. The 5 years up 2.1 basis points and the 10 year is up 0.4 basis points.
Looking at the currency markets, there is a rotation back out of the risk on flows:
- AUDUSD . The AUDUSD is now negative on the day and trading back below its 100 hour moving average at 0.62753
- NZDUSD . The NZDUSD is still positive (closed at 0.5635), but moving back toward unchanged. The current price is trading at 0.5652. The low price just reached 0.5646.
- USDCAD. The USDCAD is back above its 100 and 200 hour moving averages and trading to new session highs. The 200 hour moving average comes in at 1.3769. The 100 hour moving average comes in at 1.37829. Crude oil is moving lower. It currently trades at $82.45 which is down -3.5% and is contributed to the CAD weakness
- USDJPY: The USDJPY moved up to a new 32 year high at 149.38. That has rotated back down to 149.24 currently.