Thanksgiving Day in Canada. Columbus Day holiday in the US.
As the North American hours commence, it is Thanksgiving in Canada and Columbus day in the USA. US stocks are open. Banks may be open (some are, some are not). The government bond market is not open. There are no economic releases as a result, activity will be light.
The Asian and European market has been all about GBP. Cable is racing higher with all the major pairs up 0.74% to 0.96%. The GBPUSD is in the middle at +0.81% and up testing its 100 hour MA (blue line in the chart below) at 1.3172.
Changes and ranges show the spikes are GBP pairs. The other pairs are well contained. The GBPUSD has a 131 pip trading range and has trended to the upside (higher by 106 pips), while the EURUSD has a 30 pip trading range. It trades at the highs but up only 14 pips on the day.
- Spot gold is up $4.92 to $1281.64
- WTI crude oil is unchanged at $49.27
- US stocks in pre-market trading are up. S&P futures are up 4.5 points Dow futures are up 47 points and Nasdaq futures are up 15.5 points
- European major stock indices are mixed. The German Dax is little changed. France's Cac is little changed. UK FTSE is down -0.2%. Spain's Ibex is +0.7%. Italy's FTSE Mib is up 0.2%
- European 10 year yields are mixed. Germany, unchangesd at 0.456%. France 0.730%, unchanged. UK 1.376%, up 1.3 bp. Spain 1.653%, down -5.6 bp. Italy 2.106%, down -4 bp. Portugal 2.390%, -2.4 bp.
