US PPI/Jobless claims, Tariffs and Geo/politics. Technicals for EURUSD, USDJPY, GBPUSD ...Middle East

Politcal and geopolitical news is also a driver. This morning Pres. Trump balanced the news by saying today is the "TODAY IS THE BIG ONE!!! RECIPRICOL TARIFFS!!!" (his capital lettering). Yippee. He balanced that by saying " GREAT TALKS WITH RUSSIA AND UKRAINE YESTERDAY. GOOD POSSIBILITY OF ENDING THAT HORRIBLE. VERY BLOODY WAR!!!!". Yesterday, that news helped push the US stocks higher.

PPI Expectations: +0.3% for both headline and coreYoY Forecasts: 3.2% (headline), 3.3% (core)

Also at 8:30 AM, weekly jobless claims are expected at 215K (prev. 219K), with continuing claims forecast at 1.880M (prev. 1.886M).

Dow industrial average -225.03 points or -0.50% at 44368.62.S&P index -16.56 points or -0.27% at 6051.94.NASDAQ index rose 6.09 points or 0.03% at 19649.95.

Today, the futures are implying small changes in the major indices::

Dow industrial average +4.4 pointsS&P index -2.4 pointsNasdaq index +21.2 points

European major indices are trading mostly higher in the US morning snapshot. The exception is UK's FTSE 100 which is down -0.5%. The German DAX is starting to yet another new record high. France's CAC, Italy's FTSE MIB, and Spain's Ibex are also reaching new multiyear highs:

German DAX, 1.61%France's CAC 1.37%UK's FTSE 100 -0.52%Spain's Ibex 0.24%Italy's FTSE MIB 0.39%

2-year yield, 4.3488%, -1.6 basis points5-year yield 4.451%, -3.0 basis points10-year yield 4.597%, -3.7 basis points30-year yield 4.801%, -3.4 basis points

Yesterday yields moved higher by 7 to 9 basis points across the curve

Looking at other markets:

Crude oil is trading down -15 cents or -1.47% at $70.32Silver is trading unchanged at $32.19Gold is trading up $10 or 0.34% at $2914.55Bitcoin is trading down $2000 at $95,900 This article was written by Greg Michalowski at www.forexlive.com.

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