More confident about reaching inflation target
The US dollar has moved higher after the FOMC meeting minutes.
The USDJPY has moved up from about 106.80 and looks to test the 107.00 level. The 100 hour MA comes in at 107.06. That area is a key barometer for the bulls/bears.
For the EURUSD, the price moved from 1.2375 toward 1.2350 level. The pair closed at 1.2353 yesterday. The low just reached 1.2354. The 50% of the move down from the March 27th high comes in at 1.23449. Yesterday we traded above and below that level. A move back below should be more bearish.
The S&P has moved from down about -3 points to -8.0 points now. The Nasdaq moved from +13.5 points to -2.5 points.
The 10 year yield was at 2.7844% right after release of the minutes. The yield is now at 2.7899%. So there is not much movement so far.
Gold moved from up $16.71 and is now up $9.00 at $1348.50. The high today reached $1365.40.
