US yields are continuing to drive the markets. The rates are up another 12 basis points and the 2 year sector. Further at the curve the rises less, but still to the upside a snapshot of the yield curve currently shows:

  • 2 year 3.167, +11.4 basis points
  • 5 year 2.938%, +8.0 basis points
  • 10 year 2.820%, +6.8 basis points
  • 30 year 3.063%, +5.3 basis points

Looking at the currencies ,

  • EURUSD: The EURUSD is trading to a new session low. The low price has reached 1.01267. The swing low from last Wednesday reached 1.0114. The low price from last week reached 1.0096. Today, the high price stalled against its 100 hour moving average currently at 1.02097. The high price reached 1.02096 and found willing sellers
EURUSD falls toward lower extremes now
  • GBPUSD. The GBPUSD is breaking below its 200 hour moving average and rising trend line near 1.21199 and 1.2121. The low price just reached 1.2109 on the break but has bounced back above the aforementioned target levels. Traders will be watching the low from earlier today near 1.21345. Stay below keeps the door open for further downside momentum
GBPUSD looks to extend below key support
  • USDJPY. The USDJPY has taken a run up toward its 200 hour moving average near 134.654. The high price just reached 134.543 and backed off a bit. The price currently trades at 134.25. Move above the 200 hour moving average would be the 1st break since July 21
  • USDCHF: The USDCHF has move back above its 100 day moving average at 0.96189 and seen follow through buying up to 0.96508. The next target area comes between 0.9652 and 0.9654. Above that and traders will look toward the swing high from July 26 at 0.9669 and the 50% midpoint of the move down from the July 14 high at 0.9671.