The USD is mostly higher

As North American traders enter for the day, the GBP is the strongest and the CAD is the weakest. The USD is mostly higher with gains vs all the major currencies with the excpetion of the GBP and the NZD. The EUR is weaker as Covid cases are soaring in Europe with France posting 52K new cases. US cases are also soaring. The death rates are rising but at a lesser pace. Germany's Bundesbank sees the recovery continuing but at a much slower pace. Germany's SAP, had their stock hammered on earnings warning. This week in the US Facebook, Amazon, Apple, Google, and Starbucks are all reporting. The Covid stimulus talks are still stuck in the mud. The election in the US is next Tuesday. Oil is down. Stocks are lower in pre-market trading.

The USD is mostly higher

The ranges and changes ward showing that the USD has been mostly higher. The EURUSD, USDJPY, USDCHF, USDCAD, AUDUSD spent most of the time today with the dollar higher on the day, but off the highest levels too.

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading near unchanged at the $1902.40
  • Spot silver is trading down $0.41 -1.67% $24.19
  • WTI crude oil futures are trading down $1 or -2.51% $38.85

In the premarket for US stocks, the futures are implying sharply lower levels for the opening this week:

  • Dow industrial average -351 points
  • S&P index -41 points
  • NASDAQ index -116 points

in the European equity markets major indices are sharply lower as well:

  • German DAX, -2.6%
  • France's CAC, -1.0%
  • UK FTSE 100, -0.4%
  • Spain's Ibex, -0.5%
  • Italy's FTSE MIB, -1.0%

In the US debt market, yields are lower with the yield curve flattening:

US yields are lower

In the European debt market, yields are mixed. Ironically the Italian yields are leading the way -4.7 basis points. Investors are also pushing down Spain and Portugal yields, while the typically stronger German yields are up 0.7%.

European yields