Stocks move lower on Powells opening remarks

The US stocks have started to move lower on Powell's lower opening remarks.

• The Dow Industrial Average was down -110 points at the start of his comments and are currently down -279 points.
• The S&P was down -17.3 points at the start, and index is now down -35 points.
• The NASDAQ index was down -72 points and it is currently down -105 points

In the US debt market

• The two year yield has moved up from 4.29% to 4.35%.
• The 10 year yield was at 3.538% and is a lower now at 3.513%

In the Forex:

• EURUSD: The EURUSD remained above the low for the day near 1.0618. The current price is at 1.0644. The price low remain between the swing area between 1.0594 and 1.0640. Staying above keeps buyers in play

• USDJPY: The USDJPY USD/JPY The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting The USD/JPY is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Japanese yen of Japan (symbol ¥, code JPY). The pair’s rate indicates how many Japanese yen are needed in order to purchase one US dollar. For example, when the USD/JPY is trading at 100.00, it means 1 US dollar is equivalent to 100 Japanese yen. The US dollar (USD) is the world’s most traded currency, whilst the Japanese yen is the world’s third most traded currency, resulting Read this Term moved above its 200 day moving average at 135.35 (green line in the chart below). It currently trades at 135.46. Staying above the 200 day moving average keeps the buyers more control. Move below and the bias shifts more to the downside.

• GBPUSD. The GBPUSD GBP/USD The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a The GBP/USD is the currency pair encompassing the United Kingdom’s currency, the British pound sterling (symbol £, code GBP), and the dollar of the United States of America (symbol $, code USD). The pair’s rate indicates how many US dollars are needed in order to purchase one British pound. For example, when the GBP/USD is trading at 1.5000, it means 1 pound is equivalent to 1.5 dollars. The GBP/USD is the fourth most traded currency pair on the forex exchange market, giving it ample liquidity a Read this Term remained above the top side of a swing area between 1.2278 and 1.2346,but below the 61.8% of the 2022 trading range at 1.24507. The current price trades at 1.2387. The low price after the Fed decision at 1.2343 tested the lows from earlier in the day, and the swing high going back to December 5, and found support buyers (see chart below )