The USD is mixed with a tilt to the upside
The CHF is the strongest and the GBP is the weakest (the GBPUSD is working on it's 3rd day down after snapping a 10 day up streak). The USD is mixed with a tilt to the upside this morning with near unchanged vs EUR, up vs GBP, JPY, CAD and NZD, and down vs CHF and AUD. Mnuchin and Meadows will meet with Pelosi and Schumer to continue the coronavirus stiumuls bill talks. The chatter is that they still are miles apart. The RBA kept rates unchanged as expected. US stock futures are implying a lower opening as Pres. Trump says he wants a substantial piece of any Microsoft/TikTok deal sale price. Microsoft shares are down -1.3%
The ranges and changes have the GBPUSD trading near its lows at -53 pips on the day. The EURUSD is also near its low for the day (and just negative) after giving up its earlier gains (now down -2 pips). The GBP pairs are all near low pound levels. The JPY pairs are trading mixed. The high to low ranges are modest as NY traders enter for the day (vs the 22 day averages).
In other markets,
- Spot gold is trading down $-3.64 or -0.18% at $1973.30
- Spot silver is trading up two cents or 0.08% at $24.32
- WTI crude oil futures are trading down $0.67 or -1.63% at $40.34. The high price reached $40.99 while the low extended to $40.19
The major indices are trading lower as Pres. Trump says the US should get a commission for allowing any sale of TikTok. The Chinese are balking at that idea. Disney reports earnings after the close today.
- Dow futures are implying a -73 point decline
- S&P futures are pointing toward a 13 point decline
- NASDAQ index futures are pointing toward a 38 point decline
In the European, the major indices are trading mixed
- German DAX, -0.5%
- France's CAC, -0.2%
- UK's FTSE 100, unchanged
- Spain's Ibex, unchanged
- Italy's FTSE MIB, +0.4%
In the US debt market, yields are mixed to a little lower with the 2-10 year spread flatter:
In the European debt market, the benchmark 10 year yields are lower.