AUD strongest. GBP weakest
The US stock market has rebounded with the Major indices erasing their earlier loses and moving positive for the S&P and Dow at least. The Nasdaq - which was hit the hardest earlier in the day - is still negative but only down -0.16%. The European major indices ended with losses.
IN the bond market, the US yields are now mixed with the 2 year up 2 bp, the 10 year yield unchanged and the 30 year yield up 1 bp.
Oil is up nearly 3% in trading today to 42.98 for the Jan Futures contract.
In the forex market, a snapshot of the markets show the AUD is the strongest, while the GBP is the weakest.
The USD is down mainly but is up vs the GBP.
Looking at the AUDUSD, the price tested the 50% retracement yesteday. Today, the price has moved above the 100 day MA and based off that MA in the NY trading session. The price has pushed above topside trend line and looks to test the high from Friday's trading
For the GBPUSD, the pair moves corrects toward the 1.5086 area. This was swing low going back to May. A move back above that level would take some of the bearish sting away from the GBPUSD today (at least for the time being). The 1.5106 is another topside resistance level to retake if the low is in place. The pair stalled near a trend line connecting low going back to April and the low from earlier in November.
