The USD is mostly lower

On the day of the 1st US presidential debate between Pres. Trump and former VP Biden, the AUD is the strongest and the JPY is the weakest. The USD is continuing it's move to the downside with declines vs most major currencies (the exception is vs the JPY and the CAD). Yesterday, the USD was the weakest of the major currencies. The markets are moving to the quarter end, and that can see volatility pick up.

The USD is mostly lower

The ranges and changes are showing somewhat modest and consistent trading ranges vs the majors. The largest range is the AUDUSD which has been trending to the upside in trading today. The GBP - which has traditionally been a market mover - is moving up and down sideways in a modest 54 pip trading range today. Day 2 of the most recent Brexit negotiations continues today from Brussels. JPY crosses are higher with most activity in positive territory today. The EURJPY and AUDJPY are trending higher (and near session highs).

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading marginally higher. The is up $4 or 0.21% at $1885.43
  • Spot silver is up $0.16 or 0.72% at $23.84
  • WTI crude oil futures trading trading down -$0.32 or -0.79% at $40.28.

In the premarket for US stocks, the futures markets are implying a mixed opening with the Nasdaq up modestly, the S&P near unchanged and the Dow down modestly

  • The Dow Jones -25 points
  • S&P index is flat
  • NASDAQ index is trading up 7 points

In the European equity markets, the major indices are trading modestly lower.

  • German DAX, -0.5%
  • France's CAC, -0.13%
  • UK's FTSE 100, -0.4%
  • Spain's Ibex, -0.3%
  • Italy's FTSE MIB, unchanged

In the US debt market, the snapshot of yields are pointing to lower levels with a modestly flatter 2-10 yield curve (just 0.5 bps).

US yields are lower

In the European debt market, the benchmark 10 year yields are also trading to the downside. The Italian and Spain yields are the biggest movers lower.

European yields are lower