The USD is modestly higher (but mixed)
As traders enter for the day, the AUD is the strongest while the CHF is the weakest. The USD is higher/mixed with gains vs. the CHF, JPY and EUR and declines vs. the AUD, CAD and NZD. The GBP is near unchanged. The US stock market in premarket trading, has rebounded off lower levels overnight. US yields are lower modestly after the run higher yesterday. Gold is higher after yesterdays sharp decline took the price close to be $1700 level (the low was around $1702 yesterday). Bitcoin is lower in premarket trading.
The changes in ranges show the EURUSD is trading near its lows for the day and the USDJPY is at the highs with both spending most of the day on the USD higher trajectory. The USDCHF continued its moved to the upside after holding support above the 200 day moving average on Tuesday (bullish).
In other markets:
- Spot gold is rebounding and trades up $9 or 0.52% at $1720.20
- spot silver is up $0.02 or 0.07% at $26.12
- WTI crude oil futures are trading $0.29 or 0.46% $61.56
- The the price of bitcoin is trading down $1540 or -3.03% of $49,413
In the premarket for US stocks, the major indices are lower but off the lows for the day
- Dow -40 points
- NASDAQ index -40 points
- S&P index -9.5 points
In the European equity markets, the major indices are trading lower:
- German DAX, -0.27%
- France's CAC, -0.12%
- UK's FTSE 100, my 0.68%
- Spain's Ibex, my 0.09%
- Italy's FTSE MIB, my 0.27%
In the US debt market, the yields are lower with the 10 year training down to basis points. The yield curve is also flatter with a 2 – 10 year spread trading at 132.31 basis points vs. 134.01 basis points at the close yesterday.
In the European debt market, the benchmark 10 year yields are also lower across the board after gains yesterday. The UK 10 year yield is leading the way with a -4 basis point decline.