The USD is trading to new session highs verse the EUR, GBP, CHF, and CAD. The move comes as US yields reach to new highs for the day, and stocks reach new lows.
- 2 year yield 5.18% +1.8 basis points
- 5 year yield 4.632% +1.2 basis points
- 10 year yield 4.560% +1.8 basis points
- 30 year yield 4.692% +3.4 basis points
in the US stock market:
- Dow industrial average is down -386 point or -1.1% at 33620.54. The low reached 33584.69
- S&P index is down -60 points or -1.37% at 4278. The low reached 4274.31
- NASDAQ index is down -189.2-1.42% 13082.22. The low reached 13069.32.
Looking at some of the major currency pairs:
- EURUSD: The EURUSD high today stalled just below the 38.2% retracement 1.06106, and started a rotation to the downside. The current price is trading at 1.0562. The next target comes in at the high of a swing area at 1.0533. The swing area goes down to 1.04846 and includes the natural support at 1.0500.
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This article was written by Greg Michalowski at www.forexlive.com. Source