Last trading day of the year
It is the last day of the trading year. Yahoo.
The greenback remains the weakest currency of the day. It also was the weakest in trading yesterday. The dollar is down the most vs the GBP which is the strongest currency of the day in the morning snapshot (+0.51% - see chart below).
Yesterday the GBPUSD entered the swing high area from 2016 at 1.3443-1.3532. The high reached 1.3455 and backed off. Today, the pair has resumed the move back into the area and reached a high of 1.3519 (so far). There has only been one close above the 1.3532 level in 2017 on the weekly chart. Do we end the year above that technical benchmark today/for the year?
The ranges are ok for the last day of the year at least vs. the USD. The major cross currency changes are more contained as the "action" is in the greenback.
In other markets:
- Spot gold is up $2.29 or +0.18% at $1297.25
- WTI crude oil is up $0.18 or +0.32% and trades above $60 at $60.02
- US yields are mixed: 2 year 1.895%, down -1.2 bp. 5 year 2.226%, down -0.9 bp. 10 year 2.432%, unchanged. 30 year 2.765%, up 0.9 bp
- US stock futures in premarket trading are higher: Dow futures are up 81 points. S&P futures are up 10 points. NASDAQ futures are up 19.25 points
- In the European 10 year debt sector yields are mostly higher; Germany up 1.6 bp. France up 2.6 basis points. UK down -0.7 basis points. Spain up 4.4 basis points. Italy up 4.2 basis points. Portugal 2.1 basis points
- European major stock indices are mostly lower. German DAX -0.43%. France's CAC -0.11%. UK's FTSE up 1.04%. Spain's Ibex -0.29%. Italy's FTSE MIB -0.65%.
There are no releases on the economic calendar today.
FYI, for record high closes in the US stocks today:
- The S&P needs to close above 2690.16
- The Nasdaq needs to close above 6994.759
- The Dow closed at a record high yesterday at 24837.51. Any positive close today will be a record.
