The Philly Fed, unemployment claims and existing home sales ahead
As the North American traders enter for the day, the GBP is the strongest helped by favorable retail sales. The USD is the weakest. The US prepares for the Philly Fed index, unemployment claims and existing home sales this morning.
Looking at the changes and ranges, the USD is at lows vs. the EUR, GBP, CHF, CAD, AUD and NZD. The only pair not hitting a low vs. the USD is the JPY although it is is still lower on the day. The ranges nevertheless show, the USDJPY, USDCHF, USDCAD and AUDUSD are lagging the EURUSD, GBPUSD and NZDUSD in market price action.
In other markets as the day begins shows:
- Spot gold is up $1.70 or 0.14% at $1205.60
- WTI crude oil is unchanged at $71.13
- Bitcoin is trading up $24 at $6445
US yields are higher by over 2 bps across the board. The 2-10 year spread is up to 27.5 bps
US stocks are higher in pre-market trading:
- Dow futures imply a 128 point rise
- S&P futures imply a 10 point gain
- Nasdaq futures imply a 40 point gain.
In the European 10 year debt sector, yields are mixed:
European stocks are marching sharply higher:
- German Dax up 0.6%
- France's Cac up 0.9%
- UK FTSE up 0.18%
- Spain's Ibex up 1.1%
- Italy's FTSE MIB up 0.7%
