- S&P +10pts to 1883
- Dow +95pts to 16470
- Nasdaq +18pts to 4115
US 10 year yields 2.53% +2bp
A strong open in the US and that’s adding to the dollar side of the moves. The euro is under pressure and can’t even match the rally against the yen seen in other pairs. 1.3650 has held on a first attempt with the low at 1.3652 and we’ve staged a small 10 pip bounce so far.
Given that we seen some positive US data recently, and the fact that the dollar couldn’t rally on it, says we should place some caution on the FOMC tonight. That may not stop the market from feeling positive in the run up but we’ve seen that it’s quick to get disappointed and turn tail.
