Powell keeps the door open for easing.
US yields are trading lower after Chair Powell kept the door open for easing. The yields along the yield curve area at the low levels for the day, with the shorter end moving the most. The 2-10 spreak is at 1.94 basis points, after closing just above the flat level at 0.1 basis points yesterday.
The USDJPY just dipped to new session lows and in the process tested the 200 hour MA/trend line at the 106.32 area. The price bounced off the risk defining levels (see chart below).
US stocks are rebounding off their lows.
The snapshot shows:
- S&P index -6 points or -0.21% at 2916.63. The low reached 2901.70
- NASDAQ index -24.8 points or -0.31% at 7967. The low reached 7915.70
- Dow industrial average 20 points or -0.8% at 26234. The low reached 26072.88