The broader indices are eroding their gains. The S&P index is now up only 4.7 points or 0.11% at 4221.67. The NASDAQ index is up 7.4 points or 0.06% at 13027.
At session highs, the S&P was up 42.35 points. The NASDAQ index was up 152.06 points.
While stock prices move lower, yields are also giving back there gains. The 10 year yield is now unchanged at 4.838%. The 30 year yield is down -1 basis point at 4.979%. At the top of the hour the U.S. Treasury will auction off two-year notes.
The USD is still higher.
- The EURUSD is near its low for the day, and below its 100 hour moving average at 1.0592.. The 200-hour moving average and 61.8% retracement of the move up from the low last week comes in at 1.05706.
- The GBPUSD is trading to a new low at 1.2154, and now looks to retrace the full move up from yesterday’s low at 1.21426.
- THe USDCAD remains near its high and above a key swing area between 1.37358 and 1.37433. The current price is trading at 1.3750.