The USD is mostly lower on the day
As North American traders enter for the day, the AUD is the strongest. The CHF is the weakest and stocks are higher on positive vaccine news from Moderna and Oxford. The "risk on" flows are in full force. The USD is lower as traders exit the "safety of the USD". The greenback is only stronger vs the CHF today. PS Goldman Sach earning blew away the revenue and earnings estimates. UnitedHealth beat EPS and revenue estimates as well. So good news on the earnings front.
Looking at the changes and ranges, the USD is trading lower and near the extremes versus all the pairs with the exception of USDCHF The EURGBP which rallied strongly over the last few days, is moving modestly lower today and trades near the session lows.
In other markets:
- Spot gold is trading lower by -$3.30 or -0.18% at $1806.06
- WTI crude oil futures are trading higher by $0.60 or1.46% at $40.89 on global recovery hopes.
In the premarket for US stocks the futures are implying a higher opening after closing at session highs yesterday. The Nasdaq closed up 97 points. The S&P index rose 42.3 points. The Dow industrial average rose by 556 points. Today, the premarket trading in the futures are implying:
- S&P index up 40.23 points
- NASDAQ index up 26.73 points
- Dow industrial average up 523 points
In the European markets, the major indices are also trading higher
- German DAX, +1.87%
- France's CAC, +2.3%
- UK's FTSE 100, +1.95%
- Spain's Ibex, +1.4%
- Italy's FTSE MIB, +2.16%
In the US debt market, yields are higher higher with the yield curve steepening (2 – 10 year spread is up 2.2 basis points):
In the European debt market, the benchmark 10 year yields are trading mostly higher.
