The USD is mixed
As NA traders enter for the day, the GBP is the strongest, the CHF is the weakest and the USD is trading mixed. Both the EURUSD and the GBPUSD got with less than 8 pips each from their 100 day MAs yesterday. The EURUSD was pressured by a sobering Christine Lagarde presser after the ECB meeting. The GBPUSD has its own anxieties including Brexit. Today, however, the GBPUSD is outperforming back to the upside and looks toward testing its 100 hour MA at 1.29947. The EURUSD meanwhile remains above its 100 day MA at 1.16527, but not far from it (at 1.1670 currently with a low for the day at 1.16597). The USD is higher vs the EUR and and lower vs the GBP, JPY, CAD, AUD and NZD.
The ranges and changes show activity in the GBP pairs with price action lower before moving higher recently. The other dollar pairs show more recent dollar weakness. The AUDJPY, NZDJPY and CADJPY are all recovered back toward unchanged.
In other markets:
- Spot gold is recovered $9.60 or 0.51% to $1877.10. The gains erase declines from yesterday but the precious metal is still down on the week.
- Spot silver is up $0.24 or 1.04% at $23.50
- WTI crude oil futures are down $0.16 or -0.44% $36.01
In the premarket for US stocks, despite being earnings and revenue estimates by major large caps like Apple, Amazon, Facebook, Alphabet, the major indices are lower on fears from what lies ahead. The futures markets are implying:
- S&P index, -31.61 points
- Dow Jones -260 points
- NASDAQ index -138 points
In the European equity markets, the major indices are mixed:
- German DAX, -0.6%
- France's CAC, +0.3%
- UK's FTSE 100, -0.2%
- Spain's Ibex, +0.2%
- Italy's FTSE MIB, +0.1%
In the US debt market, yields are marginally lower
In the European debt market, the benchmark 10 year yields are mixed. The Italian yields are being shunned by investors as they are up 4.2 basis points. Spanish yields however are down -0.9 basis points.
