The USD is weaker
The NZD is leading the charge to the himupside today after the RBNZ said they don't see an easing in 2020. The JPY is the weakest as risk on flows continue and sap demand from the "relative safety of the JPY". The 2nd day of the Fed Chair's testimony will continue today. This time in front of the Senate Banking Panel.
The NZD pairs are leading the ranges and changes charge with the ranges outpacing the others with the prices trading near the highs (for the NZD) as well. The other major currency pairs have more modest moves, but the GBP is starting the session near highs against the other major currencies.
In other markets:
- spot gold is trading down $2.93 or -0.19% at $1565
- WTI crude oil futures are trading up $0.92 or 1.84% at $50.86
In the premarket for US stocks the futures are implying a higher opening once again. The S&P index and NASDAQ both closed at record highs although well off there intraday highs for the day in trading yesterday:
- Dow, +130 points
- NASDAQ, +48.5 points
- S&P +13.65 points
In the European equity markets:
- German DAX, +0.8%
- France's CAC, +0.5%
- UK's FTSE 100, +0.3%
- Spain's Ibex, +0.6%
- Italy's FTSE MIB, +0.7%
In the US debt market, US yields are up about 2 to 3 basis points:
In the European debt market, the benchmark 10 year yields are whoops with the Italian and Portugal yields trading lower, while German, France, UK, and Spain yields are higher.
