JPY pairs off lows but pairs still lower (higher JPY).

The snapshot of the currency markets are showing the JPY as the strongest while the GBP is the weakest. The flash crash in the early Asian session sent the JPY pairs sharply lower and although those pairs are well off the lows, they are still in the red by a healthy amount. Apple warned about earnings which keeps investors worried about global growth. The weakest currency is the GBP, AUD, NZD. For the GBP, most is vs the JPY but Brexit concerns can keep this pair under pressure "just because". The AUD and NZD tend to suffer when China suffers and the numbers and stories out of China show suffering.

Looking at the changes and ranges, the highs and lows shows the impact of the crash, but it also shows that rebound. GBPJPY moved 558 pips but is "only" down -200 pips in the snapshot. The EURJPY is down -133 pips.

In other markets:

  • spot gold is up $3.45 or 0.27% at $1288.13
  • WTI crude oil futures are up $.25 or 0.54% at $46.79
  • Bitcoin is down -$36.62 at $3848

In the US stock market, futures are implying a lower opening on the back of the Apple news:

  • Dow, -296 points
  • S&P, -31 points
  • Nasdaq, -132 points

European shares are also lower:

  • German DAX, -1.0%
  • France's CAC, -0.86%
  • UK's FTSE, unchanged
  • Spain's Ibex, +0.18%

In the US debt market, yields are higher (a bit of a surprise given the economic concerns and stock declines)

In the 10 year benchmark issue, yields are higher with Italian yields up sharply