The USD is mixed
As traders in the US return from the 3 day Martin Luther King Day holiday weekend, the GBP is the strongest and the AUD is the weakest. The USD is mixed with gains vs the CAD, AUD and NZD and declines vs the GBP, EUR, JPY and CHF. The GBPs gains are after strong employment numbers. The AUD and NZD are weaker on risk aversion. Concerns about the coronavirus are starting to make an impact on the markets. Moody's downgraded Hong Kong's credit rating after 7 months of political unrest.
Ranges in the majors are moderate with the EURUSD range at 24 pips. The USDCHF at 22 pips and NZDUSD at 24 pips. The USDJPY after the BOJ kept rates unchanged while raising GDP but lowering CPI forecasts. The GBP pairs are leading the way and nearer their session highs.
In other markets:
- Spot gold is down $4.60 or -0.30% $1556.20
- WTI crude oil futures are down $0.86 or -1.47% $57.68
In the premarket for US stocks, the futures are implying a lower opening:
- Dow industrial average -80.10 points
- NASDAQ futures -44 points
- S&P index -15 points
in the European equity market:
- German DAX, -0.14%
- France's CAC, -0.7%
- UK's FTSE, -0.8%
- Spain's Ibex, -0.67%
- Italy's FTSE MIB, -1.06%
Japan's Nikkei index fell -0.9%. The Shanghai composite fell -1.4%.
In the US debt market, yields are moving lower:
In the European debt market, the yields are marginally higher and off lows.
