It’s a relatively slow day in the forex markets today, in terms of both news and movements. At this point, Yen and Swiss Franc remain the weakest ones for today on stocks rebound. But at the same time, Dollar is having a rebound, has risk aversion eased and US yields strengthen too. However, as the rally in US stocks seem to be fading, it remains to be seen whether treasury yields and US Dollar could maintain the gains before daily close.
In the US, DOW reached as high as 25040.58 earlier today but it’s now at 24745, up only 0.23%. S&P 500 is up 0.78% and NASDAQ is now flat. 10 year yield is up 0.023 at 3.340, after hitting 3.355 earlier today.
In Europe:
- FTSE closed up 1.25% at 7026.32
- DAX closed up 1.20% at 11335.48
- CAC closed up 0.44% at 4989.35
- German 10 year yield rose 0.0221 to 0.38, capped well below 0.4
- Italian 10 year yield dropped -0.0901 to 3.34. It’s a good sign that, at least, spread with German is below 300 for now.
