US stocks trading lower for the 2nd consecutive day | Forexlive

The major US stock indices are trading lower for the 2nd consecutive day. The Dow Industrial Average is leading the declines with a decline of near 0.45%. Fed chair will begin his testimony at 10 AM ET. The text of his prepared remarks have already been released. You can find them HERE.

A snapshot of the market 9 minutes into the open shows:

• Dow industrial average -158.07 points or -0.46% at 33895.81
• S&P index -17.76 points or -0.40% at 4370.96
• NASDAQ index -46.31 points or -0.34% at 13620.99

The smaller Russell 2000 index is also lower. It is down -9.71 points or -0.53% at 1857.00.

In the US at that market, yields are higher:

• 2 year yield 4.740% +4.3 basis points
• 5 year yield 4.004% +4.6 basis points
• 10 year yield 3.779% +5.2 basis points
• 30 year yield 3.861% +4.4 basis points

Crude oil is trading near unchanged at $71.11. Gold prices are down $11.66 at $1923.41. Bitcoin is trading marginally above $29,000 at $29,098.

The USD remained higher.

• The USDJPY is trading to a new session high extending above the high price from yesterday in the process (see video HERE)
• The EURUSD remains in a narrow 28 PIP trading range. There is support between 1.0895- 1.0908 and resistance between 1.0933 – 1.0942 (see video HERE). There is room to roam in the pair.
• The GBPUSD moved lower despite stronger CPI data. The support comes at 1.2700 and then the 200 hour MA at 1.26844. Key support area today (see video HERE)