The USD is mixed in early NA trading
As North American traders enter for the day, the AUD is the strongest while the JPY is the weakest. The USD is trading mixed with the near unchanged levels versus the EUR, CHF, CAD and NZD. The biggest change is a 0.32% gain versus the JPY. The dollars declines are -0.11% clients first the GBP and AUD. US stocks have tilted lower and trades near overnight lows. The US yields are modestly lower. Concerns about US corporate taxes with a move up to 25% or 28% the targets bantered about. The Trump administration/the corporate tax rate from 28% to 21%.
The ranges and changes reflect the modest price action in the Forex. Apart from the GBPUSD, the ranges for the major currency pairs versus the US dollar range from 25 pips for the USDCHF to 44 pips for the USDJPY. The EURUSD, USDCHF, USDCAD, AUDUSD and NZDUSD are all within a pips of unchanged on the day.
In other markets:
- Spot gold is trading down -6 dollars or -0.35% at $1728.80
- Spot silver is trading down $0.50 or -2.0% at $24.59
- WTI crude oil futures are trading down $1.91 or 3.12% at $59.29
- The price of bitcoin is trading down -$2200 or -4.02% at $51,855
In the premarket for US stocks, the major indices have tilted back to the downside after modest gains in premarket trading overnight. The NASDAQ index tumbled -265 points or -2.01% yesterday. The S&P index fell -0.55% and the Dow was unchanged. Facebook, Alphabet, Twitter leaders will testify about misinformation in front on Congressional leaders today:
- Down -100 points
- NASDAQ -43 points
- S&P -11.1 points
In the European equity markets, the major indices are lower:
- German Dax, -0.9%
- France's CAC, -0.8%
- UK FTSE 100, -1.0%
- Spain's Ibex, -1.5%
- Italy's FTSE MIB, -0.7%
In the US debt market, yields are mixed with 5 year yields higher. The other yield curve levels are modestly lower.
In the European debt market, the benchmark 10 year yields are mixed with the gains in the Spain and Italy, and declines in the other major European countries.
