A little risk off flows
With stocks and yields move lower on "risk off" flows, the CHF is the strongest. The NZD is the weakest. The USD is mixed. The CAD is also mixed ahead of the BOC rate decision at 10 AM ET.
It is another day with limited price action. The USD pairs all have ranges of 39 pips or less on the day. The USDCHF is down -22 pips on the day as is the NZDUSD (the biggerst movers of the day). They are also trading near the day's extreme level. JPY crosses are down, but off lows as well. There is room to roam for the major currency pairs.
A snapshot of other markets is showing:
- Spot gold is up $5.26 or 0.41% at $1284.60
- WTI crude oil is down -$1.69 or -2.89% at $57.45 on global slowdown risks
US stock futures are indeed pointing to a lower opening:
- Dow -172 points
- S&P, -16 points
- Nasdaq -50 points
The Europeean markets are also week with:
- German Dax -1.5%
- France's CAC, -1.91%
- UK FTSE -1.48%
- Spain's Ibex -1.31%
- Italy's FTSE MIB -1.46%
In the US debt market, the yields continue the trend lower.
European benchmark 10 year yields are also heading lower with the more riskier countries underr the most pressure:
