It's Friday. The USD is stronger
As the North American traders enter for the day, the EUR is the strongest and the NZD is the weakest. The USD is mostly higher with only declines vs the EUR. The greenback is near unchanged vs the CHF and CAD.
No need to remind you but I will anyway....it is Friday. That can lead to position squaring. The Iran risk is increased after the drone being shot down this week. That may encourage traders to pare risk into the weekend which could lead to choppy price action (we are already seeing some of it today).
The GBPUSD is leading the way with an 82 pip trading range today. After another run toward the 1.2727 level (there is something about that area) in the Asian session, the pair proceeded to run lower. The 200 hour MA stalled the fall near the 1.26444 level. The GBPUSD is down about -44 pips. The EURUSD has gone the opposite way vs the dollar (it is higher) but the range is below the 22 day average (only 35 pips but trading at highs now). EURJPY is higher. GBPJPY is lower. NZDJPY is lower. CADJPY is higher. AUDJPY is near unchanged. That tells a little about some of the choppiness in the market today.
In other markets:
- Spot gold is up $8.20 or 0.59% ata $1396.67
- WTI crude oil is up $0.24 or0.40% at $57.30
- Bitcoin on Coinbase is
The stock futures are implying a lower opening in stocks:
- Dow, -36 points
- S&P, -6 points
- Nasdaq, -29 points
In the European markets, indices are mixed/modestly changed:
- German Dax, -0.1%
- France's CAC, unchanged
- UK FTSE +0.15%
- Spain's Ibex, +0.25%
- Italy's FTSE MIB +0.18%
In the US debt market, yields are little changed:
In the European debt market, 10 year benchmark yieldss are mostly higher with the Italian the exception. France's 10 year dipped to -0.01% this week, but is a little higher today at 0.037%. German 10 years are up but still comfortably below the 0.0% at -0.294%.
