US stocks giving up gains. Risk on, reversing.

The major US stock indices are giving up their gains. The S&P index is up 0.27% the NASDAQ index is up only 0.04%. The Dow industrial average is up 0.38%.

The S&P is moving closer to its 100 hour moving average at 3666.69. The low price reached 3686.52. Him

US yields have moved higher. The 2 year yield is now up 1 basis point. The 5 years up 2.1 basis points and the 10 year is up 0.4 basis points.

Looking at the currency markets, there is a rotation back out of the risk on flows:

• AUDUSD AUD/USD The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), 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 Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar The AUD/USD is the currency pair encompassing the Australian dollar of the Commonwealth of Australia (symbol $, code AUD), 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 Australian dollar. For example, when the AUD/USD is trading at 0.7500, it means 1 Australian dollar is equivalent to 0.75 US dollars. The Australian dollar (AUD) is the world’s fifth most traded currency, whilst the US Dollar Read this Term. The AUDUSD is now negative on the day and trading back below its 100 hour moving average at 0.62753
• NZDUSD NZD/USD Understanding NZD/USD: A Comprehensive GuideThe NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar. The pair is popular for exposure to a commodity currency, i.e. the NZD, which helps capture the risk appetite of forex traders. Like its Antipodean counterpart, the Australian Dollar, the NZD/USD is seen as a carry trade, due in part to interest rate differentials which favor the NZD. The NZD is the world’s seventh most liquid pair at the time of Understanding NZD/USD: A Comprehensive GuideThe NZD/USD is a commonly offered currency pair representing the New Zealand dollar or Kiwi and US dollar. The pair is popular for exposure to a commodity currency, i.e. the NZD, which helps capture the risk appetite of forex traders. Like its Antipodean counterpart, the Australian Dollar, the NZD/USD is seen as a carry trade, due in part to interest rate differentials which favor the NZD. The NZD is the world’s seventh most liquid pair at the time of Read this Term. The NZDUSD is still positive (closed at 0.5635), but moving back toward unchanged. The current price is trading at 0.5652. The low price just reached 0.5646.
• USDCAD. The USDCAD is back above its 100 and 200 hour moving averages and trading to new session highs. The 200 hour moving average comes in at 1.3769. The 100 hour moving average comes in at 1.37829. Crude oil is moving lower. It currently trades at $82.45 which is down -3.5% and is contributed to the CAD weakness
• USDJPY: The USDJPY moved up to a new 32 year high at 149.38. That has rotated back down to 149.24 currently.