The more hawkish Brainard comments have the dollar moving to the upside, stocks lower and yields higher.

Yields: The US 2 year is now up 7.6 basis points to 2.50% while the 10 yield is up 12.2 basis points to 2.52%. The 2-10 year spread as moved to positive two basis points out of the inversion.

Stocks: The major US indices are now all lower with the NASDAQ leading the way to the downside:

  • Dow industrial average -54 points or -0.15% at 34869.32
  • S&P -23 points or -0.50% 4559.72
  • NASDAQ index -191 points or -1.32% 14342
  • Russell 2000 down -27.19 points or -1.3% at 2068.38.

Gold has moved back down toward unchanged on the day near $1933.13


  • EURUSD is trading to a new session low and trades below the 61.8% at 1.09499. The lows from last week at 1.0944 has also been broken with the next target coming in at swing lows from March 15 at 1.09253 followed by swing lows from March 10 and 11th at 1.0899 (call it 1.0900)
  • USDJPY: The USDJPY has now moved above the swing area between 123.02 and 123.188. The current price is trading at 123.27.
USDJPY moves above swing area
  • USDCHF: The USDCHF is spiking higher and looks toward its 200 hour moving average at 0.92805
USDCHF moved up to test its 200 hour moving average

USDCAD: The USDCAD has moved back above its swing low from the end of March at 1.24286 after trading to the lowest level since November 10. The pair is now back between the swing lows from January and March between 1.24286 and 1.24476.

USDCAD has moved back into the swing area on the daily