Where Main Street Meets Wall Street

Stocks pick up a bit after better ISM services index


Bond yields move higher

The US stocks have picked up a bit after the better than expected ISM service index. The NASDAQ index is now up 131 points or 0.92% 14386. The S&P index is up 33.62 points or 0.78% at 4333.39.

In the US debt market, the 10 year yield is now up by 3.8 basis points at 1.5190 (at highs). The five year note is up 3.0 basis points at 0.9764% as it edges closer to the 1.0% level.

The USDJPY is now above its 100 hour moving average at 111.327. The price traded as high as 111.424 so far.

The USDCHF he is looking to test its 200 hour moving average at 0.92818.  A move above would have the 100 hour moving average at 0.93019 as the next key target.


The EURUSD moved to a new session low  (dollar buying) with the price reaching 1.15824 and moves further away from the resistance at 1.16016 to 1.16116 swing area. 
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