The USD is stronger as safety flows dominate
The JPY and USD are the strongest currencies, while the NZD and AUD are the weakest in a move to risk-off. Stocks are getting hammered on the back of Amazon and Google disappointed revenues. US GDP for the 3Q will be released at 8:30 AM ET with economists estimates of 3.3%. Buckle up.
![](http://az705044.vo.msecnd.net/20181026/2018-10-26_4-50-57.jpg)
At the start of the session, the USD pairs are all trading near their extremes on the day as are the JPY crosses. Risk off flows.
![](http://az705044.vo.msecnd.net/20181026/2018-10-26_4-49-38.jpg)
In other markets:
- Spot gold is up $2.89 or 0.24% at $1235.08
- WTI crude oil is down $-0.75 or -1.13% at $66.57
In the US stock market, stock futures are implying sharp declines:
- S&P is down -51 points
- Nasdaq is down -261 points
- Dow is down -328 points
In the US debt markets, yields are lower on safety flows.
![](http://az705044.vo.msecnd.net/20181026/2018-10-26_5-06-45.jpg)
In Europe, stocks are showing big declines:
- German Dax, -1.5%
- France's CAC, -1.8%
- UKs FTSE, -1.1%
- Spain's Ibex, -1.1%
- Italy's FTSE MIB, -1.5%
In the European benchmark 10 year sector, yields are also lower.
![](http://az705044.vo.msecnd.net/20181026/2018-10-26_5-09-46.jpg)