US equities are at the best levels of the day as the stock market cheers falling Treasury yields and oil prices. It’s an impressive show of reslience that the main indexes at:
- S&P 500 +0.2%
- Nasdaq +0.5%
- DJIA +0.3%
- Russell 2000 -0.6%
Early on, China worries weighed but the market has managed to shrug them off along with some poor US economic data.
With that, commodity currencies are showing some signs of life. The US dollar is still broadly strong but giving back some ground against the commodity currencies. AUD/USD still has a 78 pip mountain to climb to get back to square on the day but it’s 30 pips off the lows.