The USD is mixed
As the North American session begins, the NZD is the strongest of the majors while the, EUR (after the near -18% decline industrial production in Germany) is the weakest. The USD is mixed to start the week with gains vs the EUR, GBP and CHF and declines vs the JPY, CAD, AUD and NZD.
Apart from GBP, the other major pairs vs the US have a relatively modest start to the weeks trading (52 pips or less). The ranges ares showing lots of up and down (down and up) action in the pairs as the markets continue to digest the surprise unemployment numbers for Friday.
In other markets:
- Spot gold is trading up 7.51 points or 0.44% at $1692.54
- WTI crude oil futures are trading down $0.34 or -0.86% $39.20 despite the OPEC+ extension of production cuts for another month
In the premarket for the US stocks the futures are and implying a mixed open with the Dow leading the way and the NASDAQ slumping:
- Dow is up 207 points
- S&P is up 12 points
- Nasdaq is down -19 points
In the European equity markets the major indices are trading higher.
- German DAX, +0.17%
- France's CAC, unchanged
- UK FTSE, +0.18%
- Spain's Ibex, +1.3%
- Italy's FTSE MIB, 0.7%
In the US debt market the 30 year yield is higher with a gain of 2.4 basis points. The shorter end is near unchanged. the 2-10 your strand widened to 69.41 basis points from 68.896 points on Friday.
In the European debt market, the benchmark 10 year yields are mostly lower with the exception of France which is risen by 5 basis points and is now comfortably above the 0.0% level at 0.067%.
