Looking at the major pairs:
EURUSD is down -0.16% (higher USD)USDJPY is also down by -0.26% (lower USD)GBPUSD is unchanged.The U.S. House of Representatives narrowly passed the Tax and Spending Reconciliation Bill by a 215–214 vote, with Republicans Massie and Davidson voting against it and HFC Chair Harris abstaining by voting "Present." Representatives Schweikert and Garbarino did not vote. The legislation now heads to various Senate committees and will eventually be debated and voted on in the full Senate—a process expected to take several weeks. If it passes, former President Trump will have his big beautiful bill, but will the markets like it?
2-year yield 3.990%, -2.7 basis points5-year yield 4.142%, -1.4 basis points10 year yield 4.612%, +1.6 basis points30 yar yield 5.144%, +5.6 basis points
Looking at the US stock indices, the earlier pre-market gains are being eroded fast with the Nasdaq moving from about up 40 points to down -92 points over just the last hour of trading
Dow dow -221 pointsS&P down -28 pointsNasdaq -92 points.In other markets:
Crude oil is down -$1.00 at $60.63. OPEC+ is discussing an increase in production for July. Gold is down -$5.13 or -0.14% at $3312.60Bitcoin is up $1000 at $110,704. A new record high was reached $111,888 before a modest rotation lower. This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( The USD is little changed to start the US session. What does the recent price action say? )
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