The USD is modestly stronger
As the North American traders enter for the day the GBP is the strongest and the AUD is the weakest. The USD is modestly stronger with gains vs all the majors with the exception of the GBP. Stocks are lower but the declines are modest compared to the gains from yesterday (Nasdaq rose 226 points yesterday. It is down -24 points currently. The Dow is down -190 points vs a gain of 459 yesterday).
The ranges and changes are showing up and down trading activity today. The EURGBP is lower and trading near the session lows. The GBPJPY is trending higher today. Ranges are ok but below the 22 day averages. The day is shaping up as a pot potpourri of activity.
In other markets:
- Spot gold is down $5.40 or -0.30% at $1779.44
- WTI crude oil futures are trading down $0.17 or -0.42% at $40.47
In the premarket for US stocks the futures are implying lower levels
- Dow futures are implying a -199 point decline
- S&P futures are implying a -18 point decline
- NASDAQ index futures are implying a -25 point decline
In the European stock markets the major indices are also lower
- German DAX, -1.2%
- France's CAC, -0.9%
- UK's FTSE 100, -1.3%
- Spain's Ibex, -0.8%
- Italy's FTSE MIB, unchanged
In the US debt market, yields are mixed but with modest change. The yield curve is flatter by about 1/2 a basis point
In the European debt market, the benchmark 10 year yields are mixed with Germany, France, Spain modestly higher and UK, Italy modestly lower
