The USD is higher. The GBP (on Brexit vote day) is mixed.

As the North American session begins, the CAD is the strongest. The CHF is the weakest. The USD is mostly higher. It is the big Brexit vote day with all sorts of estimates for post trading with upside potentially at 1.4000 and downside to 1.1000 (I liked this look from an earlier post). That's a big range (it will mess up charts as well if it goes to an extreme) - more on that later). With the risk, the CHF being the weakest is kinda confusing to me but it is running higher.

Before the vote time (which will be tedious as well as it goes on), will be Empire Manufacturing, PPI and some Fed speakers (Kashhari, George and Kaplan). Canada will release existing home sales. All that points to a Red Alert Day. RISKY. JP Morgan Chase already laid an egg with their earnings.

The EURUSD, GBPUSD, USDCHF are trading at their extremes at the NA opening. The AUDUSD and NZDUSD have erased earlier gains and trade near at the lows (and back in the red). Their ranges are somewhat confined at 38 and 36 pips so far. There is room to roam. The EURJPY and GBPJPY have also given up all their earlier gains.

In other markets:

  • spot gold is down -$1 or -0.08%
  • WTI crude oil futures are up $.68 or 1.35% at $51.18
  • Bitcoin on Coinbase is trading down $-21 at $3645

In the US stock market, the futures are implying mixed results after earlier gains overnight

  • S&P index, unchanged
  • NASDAQ composite index +21 points
  • Dow Jones, -8 points

In European markets, markets are also mixed:

  • German DAX, -0.25%
  • France's CAC, +0.05%
  • UK's FTSE, +0.06%
  • Spain's Ibex, -0.17%
  • Italy's FTSE MIB, -0.27%

In the US debt market yields are lower:

European 10 year benchmark yields are mostly lower as well with the exception being the Italian notes which are up 1.5 bps.