The week is off and running if
As the North American session gets underway, the GBP is the strongest on Brexit deal hopes, and the USD is the weakest. The US stocks are rebounding after the late day sell-off through all the pair into the red. The political landscape in the US remains about the same, but Pennsylvania court threw out Pres. Trumps legal fight to turn the state toward the red side. Pres. elect Biden will start to fill his cabinet posts, and Trumps legal team distanced themselves from a Trump legal team member. HMMMM.
The ranges and changes are showing the flows into the GBP at the start of the week, with the GBP pairs all showing GBP strength. The GBPUSD and GBPJPY are trading near highs, with gans over 100 pips in each. On the other extreme is the USDJPY than some of the other JPY crosses which have ranges much below there 22 day averages (around a month of trading). The USDJPY is only in a 90 pip trading range after trading in a very narrow 80 pip range last week (lowest of the year).
In other markets:
- Spot gold is down -$6.30 or -0.34% at $1864.72
- Spot silver is down -$0.07 or -0.30% at $24.10
- WTI crude oil futures are trading up $0.47 or 1.08% at $42.88
In the premarket for US stocks the major indices are mixed but off lower levels from overnight trading:
- Dow +195 points
- S&P, +20 points
- NASDAQ index +45 points
In the European equity markets, the major indices are trading mostly higher
- German DAX, +0.50%
- France's CAC, +0.45%
- UK's FTSE 100, -0.1%
- Spain's Ibex, +0.3%
- Italy's FTSE MIB, +0.6%
In the US debt market, yields are higher with a steeper yield curve:
In the European debt market, the benchmark 10 year yields are mostly higher as well. Italy yields are down marginally:
