US equities trade higher in pre-market trading
As North American traders enter for the day/the week,, the GBP is the strongest on hopes for a Brexit deal (at some point), and the USD is the weakest on hopes for a stimulus deal (and flow out of the relative safety of the greenback). Pelosi put the lawmakers on a 48 hour deadline clock for a deal for the election. The JPY is also weaker as well as investor exit the "relative safety of the JPY). Stocks are higher in early US trading (S&P and Dow are three week winning streaks while the Nasdaq is on a 4-week winning streak).
The ranges and changes below are showing decent activity in the GBP, EUR and CHF trading pairs. Although the JPY cross currency pairs are higher (and near the session highs), the USDJPY is lower in a narrow 20 pip trading range. The USDCAD range is also very narrow at 31 pips.
In other markets, the precious metals are higher on the dollars weakness
- Spot gold is up $13.30 or 0.70%% at $1912.82
- Spot silver is up $0.66 or 2.74% $24 and 8 $0.02
- WTI November crude oil futures are up $0.04 or 0.10% $40.92. The December contract is also up $0.04 or 0.10% $41.16
The major US indices are higher with the NASDAQ leading the way:
- Dow industrial average is up 79 points
- S&P index is up 12.34 points
- NASDAQ index is up 70 points
In the European markets, the major indices are mixed:
- German DAX, -0.18%
- France's CAC, +0.27%
- UK's FTSE 100, -0.2%
- Spain's Ibex, +0.2%
- Italy's FTSE MIB, +0.16%
In the US debt market, yields are moving higher and hopes for a stimulus deal:
In the European debt market, the benchmark 10 year yields are higher as well"