The NZD is the strongest and the GBP is the weakest as NA trader enter for the day
The EUR is catching up as the strongest as the ECB adds more stimulusThe NZD is the strongest and the GBP is the weakest as NA traders enter for the day. The EUR is also stronger after the ECB added more stimulus chips to counteract the negative impact from the coronavirus. The USD is lower. Overall today, however, the gains and losses are relatively modest.
The ranges and changes show the modest price action in most of the pairs. The USDJPY, USDCHF, USDCAD, AUDUSD and NZDUSD all have ranges of 50 pips or less. The EURUSD and GBPUSD ranges are larger with both rebounding from lower levels. The GBPUSD is still lower, but has been helped by the rally higher in the EURUSD (which is now positive).
- Spot gold is trading up $7.80 or 0.46% at $1707.47
- WTI crude oil futures are trading down $-0.40 or -1.07% at $36.89 as the upcoming OPEC meeting (whenever it is, continues to make the market anxious)
- Dow is down just 30 points
- S&P is down 9 points
- Nasdaq is down 21 points
- German DAX is trading unchanged
- France's CAC is +0.6 sent
- UK FTSE, is up 0.2%
- Spain's Ibex, is up 0.3%
- Italy's FTSE MIB, up 0.8%
In the European debt market,the Italian BTP is trading down -15.3 basis points and leading the charge to lower rates.