Major European indices closed higher on the day, recovering from yesterday’s declines.
A screenshot of the final levels shows:
- German DAX, +0.99%
- French CAC index, +0.86%
- FTSE 100 +0.66%
- Spain’s IBEX rises 1.59%
- Italy’s FTSE MIB rises 1.31%
As European traders head for the exits, US stocks are trading back toward their highest levels for the day:
- The Dow Jones Industrial Average rose +94.21 points, or 0.24%, to 39,386.50.
- The S&P 500 rose 21.9 points, or 0.39%, to 5,599.
- Nasdaq 100.02 points or 0.54% at 18529.5
The small-cap Russell 2000 index is trading up 8.1 points, or 0.40%, at 2,037.60.
U.S. yields were little changed ahead of the 10-year note auction at 1 p.m. ET:
- Two-year yield 4.6 to 8%, unchanged
- 5-year yield 4.244%, -0.4bps
- 10-year yield 4.297%, -0.2bps
- 30-year bond yield 4.489%, -0.6bps
Crude oil rose after a large and unexpected drawdown in inventories. The price is currently up $1, or 1.23%, at $82.42. Crude oil fell for three consecutive days before rising today.
Gold prices rose by about $16.45, or 0.70%, to $2,379.88.
Bitcoin is trading at $57,885, which is close to its daily low of $57,357. Its high was $59,459.
The EUR/USD pair traded in a tight range during the North American session. The action continued to trade above and below its 100-day moving average at 1.0821. Current prices are just above this level at 1.0823. The trading range today is only 18 pips. This compares to an average of 53 basis points over the past month.
The USD/JPY pair continues to rise to new highs and tests the next target at 161.73 before the high of 2024 at 161.943 (see red circles on the chart below) Today’s price is based on a swing area below at 1.6127 – 1.6139.
The GBP/USD pair rose to test the highs recorded earlier this week at 1.2845. A rise above this level would target the June high at 1.28599, followed by the 2024 high at 1.2893.
