The AUD was the strongest and the JPY the weakest as NA traders entered for the day. The US dollar was mixed higher with declines compared to the AUD and NZD (close to the unchanged verse in GBP in the morning snapshot), and gaining verse in JPY, EUR and CHF.
The USDJPY rebounds back to the upside and trades back above its 200 hour moving average at 127.81. Yesterday the price moved below that moving average and 50% of the last trend leg was moving higher. The correction in the late afternoon pushed the pair back to its 200 hour moving average or sellers entered the early Asian session a new low returning on April 19 reached 129.93, but since then the price has been rising. moving higher above that. 200 hour moving average and short -term over 100 hour moving average at 128.052.
The US 30 year mortgage rate reaches another cycle high of 5.37%. Pending home sales will be released at 10 AM ET later today. Crude inventories will be released at 10:30 AM ET private data was released late yesterday and showed an increase in crude oil of 4.784M barrels. The estimate is for a 2.000M build.
In other markets, the morning snapshot shows:
- Spot gold is down $ 5.10 -0.29% $ 1900.10
- Spot silver rose $ 0.13 or 0.57% $ 23.60
- Crude oil was down slightly by -$ 0.54 or -0.52% to $ 101.65
- Bitcoin trades at approximately $ 900 and $ 39,037
In the premarket for U.S. stocks, major indices traded higher after yesterday’s collapse. Microsoft shares traded at about $ 10 after last night’s earnings. Google isn’t showing much of a decline near $ 100 or -4.1%. Boeing missed earnings this morning and its stock dropped 4% compared to yesterday. Revenues after closing include Meta-, PayPal, Ford, Qualcomm, servicenow. Meta-shares dropped 52.9% from its all-time high.
The Dow is down -10% from its 52 -week high. The S&P is down -13% and the NASDAQ index and Russell 2000 index are both down -23% from all -time highs
- The Dow industrial average rose 255 points after minus 809.28.4 yesterday
- S&P index +20 points after -120.92 point decline yesterday
- The NASDAQ index rose 57 points after a -514.11 point decline yesterday
Europe, the major indices rebound higher despite the decline in the US market late yesterday.
- German DAX, +0.27%
- France’s CAC +0.51%
- UK FTSE +0.7%
- Ibex of Spain +0.32%
- Italy’s FTSE MIB +0.42 % %
US debt market, yields are moderately higher after declines seen over the past few days
- The two -year yield was at 2.526%, up 4.5 basis points. High yield reached 2.787%
- The 5 -year is at 2.765%, up 2.6 basis points. The high yield in this cycle reached 3.048%
- 10 years 2.755% up by 2.9 basis points. High yield reached 2.981%
- 30 years 2.851% increase of 1.9 basis points. The high yield reached 3.032%.
In the European debt market, the benchmark 10 -year yield was also somewhat higher in early North American trade:
The US dollar is