The AUD is the strongest and the GBP is the weakest as the NA session begins
The USDAs the North American session begins, the AUD is on its 4th day or higher values (trended higher 6 of 7 days), while the GBP is the weakest. The USD is mostly lower (again) with declines continuing vs the commodity currencies (AUD, NZD and CAD) along with the continued fall vs the EUR (it has trended higher in 8 of the last 9 trading days).
The ranges are pretty impressive this time of day with the EURUSD, GBPUSD near the 22 day average already. The activity in the USDJPY and USDCHF is a bit lighter. The commodity currencies are each trading near their session highs vs the USD (PS Gold and silver - up 7.1% - are continuing their runs to the upside).
- spot gold is trading up $18.30 or 1% at $1860.26. It is getting closer to the 2011 high of $1921.17. Silver is also extending abruptly to the upside. It is trading up $1.50 or 7.11% at $22.84. With stocks at highs, yields low, investors continue to latch onto the precious metal idea as a place to park funds.
- WTI crude oil futures are not higher. it trades down $0.69 or 1.64% for the September contract at $41.37
- Dow, -51 points
- NASDAQ +50 points
- S&P, -3 points
- German DAX, -0.36%
- France's CAC, -0.96%
- UK's FTSE 100, -0.7%
- Spain's Ibex, -1.2%
- Italy's FTSE MIB, -0.7%