The USD is mixed in early North American trading
As North American traders enter for the day, the AUD is the strongest and the CHF is the weakest. Hopes for a budget deal breakthrough has helped to lead to gains in the AUD. Also NAB business confidence was a touch better (although price action was volatile). The CHF continued the fall that was seen in trading yesterday. The USD is mixed with gains against the CHF and declines vs the CAD and AUD. The other pairs are closer to the unchanged level in the morning snapshot.
The ranges and changes are showing the USDCAD near the day's lows and the AUD near the day's high (lower USD). The USDCHF is also near high levels for the day. The trading ranges are relatively low.
In other markets, the snapshot is showing:
- spot gold is up $5.90 or 0.45% at $1314.17
- WTI crude oil futures are up $1.23 or 2.35% at $53.65
In the pre-market for US stocks, futures are implying higher openings on hopes for a budget deal breakthrough that will avoid a 2nd shutdown on Saturday:
- Dow futures imply a 183 point rise
- S&P futures imply a 19 point rise
- NASDAQ futures imply a 56 point rise
European shares are also trading higher after yesterday's near 1% gains
- German DAX, +1.13%
- France's CAC, +0.94%
- UK's FTSE is lagging at unchanged
- Spain's Ibex, +0.78%
- Italy's FTSE MIB, +1.12%
In the US debt market, yields are higher by 2-3 bps
The benchmark 10 year yields in Europe are mixed:
Today:
- Day 2 of the US and China trade talks with deputy level representatives meeting before minister level representative taking over at the end of the week
- JOLT job openings will be released at 10 AM with 6846 est vs 6888 last month
- Fed's Powell will be speaking at 12:45 PM ET/1745 GMT. He will also speak to students in Mississippi earlier at 11 AM ET/1600 GMT
- Feds Meister will speak at 6:30 PM ET/2330 GMT
