USD continues it's fall from Friday

The USD ending up falling on Friday after Powell's comments eased traders concerns about an overly hawkish Fed Chair in the face of all the global uncertainty. Today, the USD is continuing that trend. The USD is the weakest of the majors at the start of the North American session. The CHF is the strongest in the wander so far today.

Today, US trade talks with China began. The ISM non-manufacturing index for December will be released at 10 AM ET/1500 GMT. The expectation is for a gain of 59 points vs 60.7 last week. Because of the government shut down, other data like Durable goods and factory orders will be delayed until further notice. Later in the week, trade figures are also expected to be delayed. Fed's Bostic will speak at 11:30 AM ET/1600 GMT.

Looking at the changes and ranges, the USDCHF is trending lower today (the CHF is the strongest) and trades near the session lows. The ranges are muted in relation to the 22-day averages. There is room to roam in trading today (see Adam's post).

in other markets:

  • Spot gold is up $7.70 or 0.60% at $1292.78
  • WTI crude oil is up $1.09 or 2.27% at $49.05
  • Bitcoin on Coinbase is down -$22.51 at $4007.90, after running higher on Sunday. The price moved up from $3833 to a high of $4088.

In the Pre-market for US stocks, earlier declines in stock futures have been erased, and the implied openings are near unchanged/higher:

  • Dow, up 36 points
  • S&P, up 1.2 points
  • Nasdaq, unchanged

In Europe,

  • German, Dax, -0.4%
  • France's CAC, -0.5%
  • UK's FTSE -0.4%
  • Spain's Ibex, unchanged
  • Italy's FTSE MIB, +0.24%

In the US debt market, yields are opening the NY session lower.

In the 10 year benchmark note sector is mixed: