Markets are shifting. Yields are higher. Stocks are higher. USD is tilting to the upside

The Amazon/TikTok news is giving the US stocks a bit of a boost. The S&P is up 24.74 points or 0.44%. The NASDAQ index is up 130 points or 0.74%. Meanwhile, yields have reversed from being down about 4– 6 basis points to now up about 4– 5 basis points.

A snapshot of the US yield curve currently shows.

• 2 year yield 3.909%, +4.7 basis points
• 5-year yield 3.958%, +5.0 basis points
• 10-year yield 4.203%, +4.7 basis points
• 30-year yield 4.559%, +4.5 basis points

Looking at some of the major currency pairs:

• EURUSD: The EURUSD extended above a ceiling area between 1.0848 and 1.0859.. The high price reached 1.0872 but has rotated back down and currently trades at 1.0853. That puts the price with in that swing area ceiling. Moving below would give sellers some confidence and give the buyers some cause for pause after the failed break. Conversely, hold this level and the buyers are still happy. Key testand short term risk defining level on this dip.

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