Weaker PMI data sends EUR pairs lower
The weaker than expected PMI data out of Europe has the EUR pairs sharply lower in trading today with the EURJPY leading the way at -1.08% in the morning snapshot. The EUR is lower vs the GBP by -0.93% and the USD by -0.67%. The JPY is back to getting risk-off flows. The European shares are under pressure as are yields. German 10 year yields are below 0.0% (first since October 2016) which is certainly not helping the EUR at all.
The ranges and changes are showing decent moves in the EUR and GBP pairs. The USDCAD, AUDUSD and NZDUSD are lagging (below their 22 day averages). JPY crosses are all trading lower with most at session lows.
IN other markers,
- Gold is up $3.40 on safe haven strength at $1312.61
- WTI crude oil is down -$0.57 at $59.41
IN the US pre-market trading for stocks, future are implying lower opens:
- Dow, -121 points
- S&P, -12 points
- Nasdaq -19 points
In the European markets, shares are sharply lower:
- German Dax, -0.75%
- France's CAC, -1.25%
- UK FTSE, -1.40%
- Spain's Ibex, -1.13%
- Italy' FTSE MIB -1.31%
As mentioned, the German 10 year is below the 0.0% level for the first time since October 2016.
In the US, yields are down sharply with the 10 year below the 2.5% level (at 2.4763% currently).
Lots of data with:
- Canada Retails sales
- Canada CPI
- US Markit PMI
- US Wholesale inventories
- Existing Home sales
- Baker Hughes
- US budget statement for Februray
- GDP tracking data from NY and Atlanta Fed
