The USD is mostly higher.

The JPY is entering the North American session higher, while the NZD is the weakest. Usually when the JPY and CHF are the strongest, there is a flight out of risk. Although the PMI data out of the Eurozone were marginally weaker, the stocks are higher. In the US the major indices are higher too after the likes of Microsoft, Tesla and Paypal beat expectations. Amazon and Intel earnings are up after the close today. Twitter did release already and they disappointed.

The JPY is the strongest. The USD is mostly higher

The changes in some of the pairs are woefully low. USDJPY, USDCHF and USDCAD only have ranges of 20 pips or lesss. The GBPUSD leads the volatility charge (once again) wtith an up and down range of 73 pips. It is in the red now, after rising early in the session. The EURUSD had a similar up and down motion as the PMI data sent prices higher first and then lower as the numbers got worse. The ECB kept rates unchanged and await the final press conference from ECB's Draghi.

The ranges and changes are modest

In other markets:

  • Spot gold is down $0.50 or -0.3% at $1491.63
  • WTI crude oil futures are down $0.13 or -0.23% at $55.83

In the US stock market as mentioned above the major indices are expected to open higher:

  • Dow +62 points
  • NASDAQ, +50 points
  • S&P index +8 points

In the European market, major indices are also trading higher:

  • German DAX, +0.6%
  • France's CAC, +0.4%
  • UK's FTSE 100, +0.9%
  • Spain's Ibex, +0.5%
  • Italy's FTSE MIB, +0.8%

In the US debt market yields are marginally lower by -1 to -2 basis points

US yields are marginally lower

In the European debt market, the benchmark 10 year yields are mixed with some higher and some lower:

European yields are mixed