The USD is mixed/lower
As NA traders enter for the day, the GBP is the strongest and the NZD is the weakest. The USD is mixed with a negative tilt. The greenback is down vs the EUR, GBP, CAD and CHF and up vs the NZD. It is near unchanged vs the JPY and the AUD in the morning snapshot. Jobless claims will be released at 8:30 AM ET. with expectations of 1100K vs 1186. Continuing claims are expected to fall to 15800K vs 16107K last week- lower but still a high number. Feds Daly said yesterday that as the COVID drags on, the job losses may start to become more permanent.
Looking at the ranges and changes, the EURUSD and GBPUSD are leading the way with trend like gains to the upside today. The EURUSD based against the 100 hour MA in early Asian trading and marched higher. It is off the highs but still up 52 pips. The GBPUSD moved above its MAs (100 and 200 hour) near mid session and is backing up a little in early NA trading back toward the 200 hour MA at 1.3080. The USDJPY is near unchanged on the day after falling earlier. The AUDUSD is also little changed. The USDCHF was lower but is rebounding toward unchanged. The JPY crosses are mixed.
In other markets:
- Spot gold is trading up $14 or 0.74% at $1929.90
- Spot silver is up $0.70 or 2.76% at $26.19
- WTI crude oil futures are trading near unchanged at $42.66 down a penny
In the US stock market, the futures are implying a modestly lower opening. The S&P index moved above its all-time high closing level intraday yesterday at 3386.15, but backed off into the close. It was still up 1.4% or 46.66 points. The NASDAQ index soared by 229 points or 2.13% yesterday.
- Dow is down 58 points
- S&P is down a .35 points
- Nasdaq is down 4.47 points
In the European market, the major indices are lower. The German DAX, France CAC and UK FTSE 100 have been up for 4th consecutive days coming into today
- German Dax, -0.23%
- France's CAC -0.26%
- UK FTSE 100, -1%
- Spain's Ibex, -0.2%
- Italy's FTSE MIB, -0.3%
In the US debt market, US yields our mixed/little changed as North American traders enter. The US treasury will auction off $26 billion of 30 year bonds at 1 PM today:
In Europe, the benchmark 10 year yields are modestly higher across the board:
