Modest changes to the downside

The futures are implying modest declines in the major indices after yesterday's mixed results. The Dow and S&P both fell yesterday. The NASDAQ index closed with a small gain.

  • NASDAQ down -17 points
  • Dow -20.32 points
  • S&P -2.8 points

At 10 AM ET, the preliminary University of Michigan consumer sentiment index will be released with expectations of a rise to 71.9 versus 70.3 last month.

US yields have pushed higher in early US trading with the 10 year yield now up 3.6 basis points to 1.3670%.

US yields are higher

The USD has moved higher as a result. The EURUSD as retraced all its earlier gains and outrage negative and at new lows for the day (higher USD). The USDJPY and USDCHF are also trading to new highs for the day (higher USD).

The GBPUSD is back to negative on the day and looks toward the low for the day at 1.37374 (at 1.37829 currently). The USDCAD is back above its 100 and 200 hour moving averages near 1.2660, and looks to the close from yesterday at 1.2680 (currently trading at 1.2674..