The USD is mixed/stronger
The 3 days after the landslide victory by the Tories and Boris Johnson, the EUR is the strongest and the GBP is the weakest. Since the first hour of trading after the first exit poll suggested the Tories were doing better than expected and the pair moved to 1.35139, the price action has been to the downside for the GBP. The low today reached for the GBPUSD reached 1.3154. That is within 15-16 pips of the low just before the exit poll announcement at 1.31388. Morevover the pair is below its 200 hour MA at 1.32166 (trades at 1.31812).
The USD today is higher but down vs the CHF and EUR.
The ranges and changes are showing the action is in the GBP pairs. In addition to the GBPUSD being down some -138 pips, the EURGBP is up 111 pips and trading near the sessiion highs. The USDJPY is hardly moved with a 14 pip trading range. The other pairs (sans the GBP) vs the USD have ranges of 45 pips or lower.
In other markets, the snapshot is showing:
- spot gold is up $2.35 or 0.16% at $1478.63
- WTI crude oil futures are up $0.25 or 0.42% at $60.46
In the premarket for US futures the markets are mixed:
- Dow, -12 points
- NASDAQ +8.6 points
- S&P index +2.8 points
In the European equities market, the major indices are mostly lower:
- German DAX, -0.7%
- France's CAC, -0.3%
- UK's FTSE 100, -0.1%
- Spain's Ibex, -0.5%
- Italy's FTSE MIB, +0.4%
In the US debt market yields are mixed with the 2 year up marginally and the 10 and 30 year down +1 basis point.
- 2 year 1.628%, +0.2 basis points
- 5 year 1.6932%, -0.8 basis points
- 10 year 1.861%, -1.0 basis points
- 30 year 2.276%, -1.0 basis points
In the European tenure debt market, yields on the benchmark 10 year yields are mixed:
- Germany, -0.285%, -0.8 basis points
- France 0.16%, -0.2 basis points
- UK 0.777%, -4.5 basis points
- Spain 0.406%, -1.4 basis points
- Italy 1.299%, +0.4 basis points
