US stocks rotating back to the downside ahead of chair Powell presser

Technical Analysis

Author: Greg Michalowski | nasdaq

A look at the markets ahead of his press conference

the US stocks have had back to the downside just ahead of chair Powell's press conference scheduled at the bottom of the hour.

A snapshot of the market a few minutes before the start shows:
  • S&P index -78.14 points or -2.03% at 3771.45
  • NASDAQ index -238 points or -1.75% at 13386.03
  • Dow -492 points or -1.6% at 30443.14
in the US debt market, the 10 year yield is trading at 1.009%, -2.5 basis points. The low yield today moved to 0.9992%

A look at the markets ahead of his press conference_
In the forex market, the US dollar is the strongest, while the AUD is the weakest.

The US dollar is still the strongest of the majors More specifically in the forex:
  • EURUSD: 1.2105
  • GBPUSD 1.3704
  • USDJPY 104.13
  • USDCHF 0.8889
  • AUDUSD 0.7675
  • NZDUSD 0.7176
In other markets
  • Spot gold is trading down $-7.30 or -0.4% 1843.45
  • spot silver is trading down $0.22 or -0.88% $25.24
  • WTI crude oil futures are trading at $52.71 up $0.10
For bank trade ideas, check out eFX Plus
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