US major indices recovered and traded near session highs. The S&P index is now trading in positive territory after trading down as much as 92 points at session lows. The Dow industrial average is trading up 263 points or 0.63% after trading down as much as 435 points.
The NASDAQ index is still negative by about 120 points or -0.70% but that is still well off its lows of -468.62 points.
US yields are trading near highs with the two year now up one basis point at 3.920%. The ten-year is unchanged at 4.255%.
Gold traders highs $3127.91. Is currently trading up $38 or 1.24% at $3122.85 as it maintains most of its gains on the day. The low price for gold today was at $3076.98.
Crude oil is trading higher by $2.17 at one $71.53. For the week, crude oil is up 3.16% and on pace for its fourth consecutive week higher after bottoming at $65.22. Today, the price moved above its 100 day moving average is $70.66.
The rise in yields and with risk off sentiment easing, the USDJPY is also higher. Technically, the price moved back above its 200 hour moving average 149. 848 and the broken trend line. The price is now testing its 100 hour moving average of 150.215. Get and stay above that level and a swing low from Friday’s trade 150.35 would be targeted.
The low price today stalled near a swing area between 148.56 and 148.724. The buyers leaned against the level on two separate occasions before bouncing was more momentum to the upside.
This article was written by Greg Michalowski at www.forexlive.com.