And the Nasdaq goes positive….

…and the NASDAQ index erases losses and goes positive on the day/week

The NASDAQ index is now up 7 points or 0.05% at 13227.18. Since the index was unchanged at the close yesterday, it is now positive for the week.

The 10-year yield is down to 4.815%. That’s still up 10 basis points, but off the high yield of 4.887%

The USD has given up some of its gains:

• EURUSD: The EURUSD moved back above its 200-hour moving average at 1.0529 (and traders and are scratching their heads or at least I am). The bias has shifted around above the moving average. The 200-hour moving average is now support.
• USDJPY: The USDJPY remains above its 100 and 200-hour moving averages near 149.13 and 149.207. That pair is keeping its bullish bias above those moving averages
• GBPUSD: The GBPUSD is back above its 200-hour moving average 1.21516 and is reaching back toward the high for the day at 1.22193. The current price is at 1.2186. The 200-hour moving average is now support. On the top side, the area between 1.2219 and 1.22316 is now resistance.