<p style=““ class=“text-align-justify“>After the Powell-induced volatility yesterday, markets are adopting a calmer approach so far today. Looking at the bond market first, 2-year yields in the US are up 3 bps to 5.040% while 10-year yields are flat at 3.972% currently. That is seeing equities fare slightly better with S&P 500 futures up 8 points, or 0.2%, while European indices are little changed at the moment.</p><p style=““ class=“text-align-justify“>Meanwhile, the dollar is trading more mixed across the board with light changes for the most part. I’ve summed up the technical predicaments for dollar pairs in my earlier posts below:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/news/eurusd-nears-a-test-of-key-support-level-as-dollar-stays-poised-20230308/“ target=“_blank“ rel=“follow“>EUR/USD nears a test of key support level as dollar stays poised</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/usdjpy-looks-for-a-more-meaningful-upside-break-on-higher-bond-yields-20230308/“ target=“_blank“ rel=“follow“>USD/JPY looks for a more meaningful upside break on higher bond yields</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/gbpusd-downside-in-focus-after-break-of-january-lows-20230308/“ target=“_blank“ rel=“follow“>GBP/USD downside in focus after break of January lows</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/usdchf-looks-for-a-bit-more-of-a-pullback-for-now-20230308/“ target=“_blank“ rel=“follow“>USD/CHF looks for a bit more of a pullback for now</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/usdcad-comes-up-for-some-air-boc-in-focus-later-today-20230308/“ target=“_blank“ rel=“follow“>USD/CAD comes up for some air, BOC in focus later today</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/audusd-in-troubled-waters-after-double-whammy-yesterday-20230308/“ target=“_blank“ rel=“follow“>AUD/USD in troubled waters after double whammy yesterday</a></li><li><a target=“_blank“ href=“https://www.forexlive.com/news/nzdusd-downside-case-in-focus-after-yesterdays-plunge-lower-20230308/“ target=“_blank“ rel=“follow“>NZD/USD downside case in focus after yesterday’s plunge lower</a></li></ul><p style=““ class=“text-align-justify“>That being said, despite the calmer mood now, we may see things kick into gear later on once Wall Street steps into the fray and when we get to the US ADP employment data. It’s all about <a target=“_blank“ href=“https://www.forexlive.com/news/the-landmines-ahead-of-the-fomc-policy-meeting-decision-later-this-month-20230308/“ target=“_blank“ rel=“follow“>navigating through the field of landmines</a> now.</p>
This article was written by Justin Low at www.forexlive.com.