The USD is mostly strongly
The JPY is the strongest and the GBP is the weakest as North American traders enter for the day and the week of trading. This week will be highlighted by the employment report on Friday where the Unemployment rates is expected to soar to 16% or more. The USD is higher with the gains vs the GBP at 0.56% and 0.4% vs the EUR. The greenback is down vs the JPY. The market continues to be worried about the US/China trade relationship as Pres. Trump continued to blame China over the weekend.
The ranges and changes are GBPUSD with a 110 pip trading range. The pair is trading down $0.70. The GBPJPY is also down sharply at -90 pips. THe USDCAD trading range is a fairly healthy 91 pips. The price is nearly unchanged after trading higher by about +63 pips at the highs.
In other markets:
- Spot gold is trading up $8.50 or 0.5% at $1708.95
- WTI June crude oil it is trading down $0.57 or -2.83% $19.22. Meanwhile, the July contract is also lower at $-0.44 or -1.97% at $21.85.
In the pre-market for US stocks the futures are implying a sharply lower opening after Friday's -622 point decline in the Dow. The S&P fell 2.81% (-81 points) and the Nasdaq fell -3.2% (-284 points) on Friday.
- Dow is -231 points
- S&P is -23 points
- Nasdaq is -54 points
In the European market, the major European markets return after the May Day holiday on Friday (UK FTSE was open).
- German DAX -3.3%
- France's CAC -3.7%
- UK FTSE -2.9%
- Spain's Ibex
- Italy's FTSE MIB -2.9%
In the US debt market, the yields are lower but little changed (less than 1 bp down)
In the European debt market, the benchmark 10 year yields are mostly higher (UK the exception) as investor shun the EU countries debt today.
