The USD is mostly stronger
As North American trades enter for the day, the GBP is the strongest followed closely by the USD. The NZD is the weakest, with it's sister currency the AUD right behind. The GBP was supported by the finance minister's new job scheme. The trend higher in the USD continues but at a modest pace so far today. The largest gains are vs the NZDUSD and the AUDUSD. The AUDUSD fell sharply yesterday on the back of increasing expectations for a RBA cut.
The ranges and the changes are showing the US dollar is modestly change vs. the GBP (up 4 pips), JPY (up 6 pips), and CAD (up 9 pips). The biggest mover's are the AUDUSD and the NZDUSD which have fallen by -38 and-46 pips respectively and trade near session lows.
In other markets:
- Spot gold has continued its moved to the downside in reaction to the higher dollar. The price is currently down $-6.35 or -0.34% at $1857
- Spot silver is has shed another $0.54 or -2.37% to $22.23
- WTI crude oil futures are trading down modestly by $0.09 or -0.23% to $39.83
In the premarket for US stocks, the markets are adding to the sharp losses from yesterday in an up and down premarket session. The NASDAQ fell over -3% yesterday while the S&P index fell by -2.37%. Today, the snapshot of the futures are implying:
- The Dow Jones down -48 points
- S&P index is down -9.67 points
- NASDAQ index is trading down -80 points
In the European equity markets, the major indices are mixed. Spend Italy shares are moving higher
- German DAX, -0.1%
- France's CAC, unchanged
- UK's FTSE 100, -0.19%
- Spain's Ibex, +0.7%
- Italy's FTSE MIB, + 016
In the US debt market, the snapshot of yields are mixed with the 5 year up 0.1 BP while the 10 year is down -0.7%. The US Treasury will complete it's auctions this week by flooding $50 billion of 7 year notes.
In the European debt markets, the benchmark 10 year yields are mostly lower with the German 10 year down -2.2 basis points leading the way.