The USD is mixed but higher vs the AUD and NZD
The CHF fall is taking a breather today (correcting after a sharp move lower of late) which is leading to the CHF being the strongest of the major currencies. The AUD is the weakest after 0.0% inflation for the 1Q has traders expecting a cut (although it may not be in May according to sources). The USD is higher vs the EUR, CAD, NZD and AUD, but marginally lower vs the GBP, JPY and CHF.
The ranges and changes are so-so today. The AUD and NZD pairs have seen good (relative activity) as has the CHF. The USDJPY remains in the doldrums in up and down trading. The EURUSD has traded mostly below the unchanged line (german IFO data was weaker than expected), but has only a 33 pip range. The GBPUSD is down and now up and trading at the highs for the day.
IN other markets:
- Spot gold is $2 or -0.15% at $1270.53
- WTI crude oil futures are near unchanged levels at $66.26
In the pre-market for US stocks, the major indices are a touch higher. The futures are implying:
- Dow, +16.61 points
- Nasdaq, +6 points
- S&P, +0.5 points
In the European markets, indices are mixed
- German Dax, +0.61%
- France's Cac -0.34%
- UK FTSE -0.58%
- Spain's Ibex -0.61%
- Italy's FTSE MIB -0.58%
In the US debt market yields are lower:
European 10 year benchmark yields are also lower with the German 10 year back to 0.0% (down 4 bps on the day).
