Whoops. ISM nonmanufacturing reverses the USD and yields

The ISM non-manufacturing index (lowest since March 2020) has reversed the US dollar and yields. The Dow has also moved positive after the report. The S&P and NASDAQ and are also now positive.

• Dow industrial average up 103 points
• S&P index up 14.67 points
• NASDAQ index up 31 points

Looking at us yields:

• 2-year yield is down -0.6 basis points
• 5-year yield is up only 0.9 basis points
• 10 year yield is now up only 1.8 basis points
• 30-year yield is up 2.5 basis points

All have come off their highest levels

for the US dollar:

• EURUSD is now about it 200-hour moving average 1.0798 and also above a binary target between 1.07950 and 1.08036. The 200 day moving average looms above at 1.08322
• USDJPY moved to a high of 151.947 in the early US trading,. That got within two pips of its highest level going back to 1990 and the high price for last week. The price is now trading at 151.81 after trading to a low of 151.63. The 100 hour moving average and 200 moving average at 151.49 and 151.44 remain as targets that would need to be broken on the downside to increase the bearish bias

This article was written by Greg Michalowski at www.forexlive.com.