USD is trading higher
The markets can add more political risk added to the heap of issues with the passing of SCJ Ruth Ginsburg on Friday. That may take resources away from a stimulus package and/or lead to retaliatory efforts by the Dems to halt GOP initiatives. In Europe there are 2nd wave fears of the coronavirus. The news has the stocks under pressure. Yields are mostly lower as well. The Dow futures are implying a -500 point decline.
The ranges and changes are showing decent action in the major currencies. The ranges have pretty much already reached the average trading ranges over the last 22 days. The GBP pairs are leading the day to the downside after earlier gains.
In other markets:
- spot gold is trading down $21 or -1.07% to $1929.60
- spot silver is trading down $0.49 or -1.84% at $26.29
- WTI crude oil futures are trading down $-1 or -2.43% of $40.11
In the premarket for US stocks the major indices are sharply lower:
- Dow, -500 points
- NASDAQ, -170 points
- S&P index, -50 points
In the European markets, indices are sharply lower on coronavirus fears:
- German DAX, -3%
- France's CAC, -2.9%
- UK's FTSE 100, -3.1%
- Spain's Ibex, -2.75%
- Italy's FTSE MIB, -2.90%
In the US debt market the yields are lower with the yield curve flattening:
In the European debt market, the benchmark 10 year yields are also mostly lower with Italy being the exception:
