Powell presser continues.
With Chair Powell saying it is not time to raise rates and seems not to be in any hurry to take away stimulus, the US stocks have reacted favoreably. Yields remain steady. The dollar has edges lower.
Looking at the EURUSD, it has now moved above its 100 and 200 hour MAs at 1.1600 and 1.16071. The price has also traded above the 50% of the range from last week at 1.1613. Stay above the 100/200 hour MAs will keep the bias more positive for the pair.
The NASDAQ index is now up 125 points or 0.79%. The 10 year yield is down to 1.577%. It traded as high as 1.602%.
