The USD is mixed
The GBP just took the lead as the weakest currency with the latest Brexit headlines. The CHF is the strongest, but all the major pairs are scrunched together as the market awaits US retail sales, import and export prices, industrial production and capacity utilization and U of Michigan consumer sentiment. It is Friday too, which can influence trading as weekend squaring occurs.
The ranges and changes are showing inactivity today with the major pairs vs the US all within 17 pips of unchanged, and the ranges all below 50 pips (and well below the 22 day averages - about a month of trading). That is not a lot of activity.
In other markets:
- Spot gold is up $4.40 or 0.33% at $1205.50
- WTI crude oil is up $0.32 or 0.47% at $68.89
- Bitcoin on Coinbase is near unchanged levels at $6463. The low reached $6378. That was just above the 200 hour MA at $6358 and the 100 hour MA at $6347 (blue and green lines in the chart below). Buyers showed up keeping the bulls in control (at least intraday). A move below would swing the trading bias around to the bearish side.
The US futures are implying a higher opening:
- Dow up 38 points
- S&P up 3.75 points
- Nasdaq up 25.5 points
European shares are mixed:
- German Dax is up 0.26%
- France's CAC is up 0.24%
- UK FTSE is up 0.24%
- Spain's Ibex is unchanged
- Italy's FTSE MIB is down -0.21%
In the US debt market, yields are up about 1-2 bps:
The 10 year benchmark yields in Europe are also higher on the day:
Florence has made landfall as a Category 1 storm. The estimates are it could dump up to 40 inches of rain in certain areas. Rising coastal waterways are also a major concern. Thoughts and prayers to those in the storms path.
