Stocks higher on the day
As North American traders enter on Friday, the JPY is the strongest of the major currencies, and the JPY is the weakest. Stocks are rebounding today which has some of the risk off flows being reversed today. The GBP is mixed after PM finally announced the concrete plans for her resignation. The USD is lower but with modest changes vs many of the pairs (the USDs change is less than 0.1% vs EUR, GBP, JPY, CHF and AUD)
The major pairs vs the USD (sans the GBP) have ranges of 29-36 pips. Not a whole lot of price action. Apart from the NZDUSD andd USDCAD, the snapshot has the pairs with 12 pips of unchanged.
In other markets:
- Spot gold is down -$1 or -0.08% at $1282.56
- WTI crude oil is up $0.58 or 1.02% at $58.50 after the sharp selloff yesterday that saw the contract fall over 5%
In the pre-market for US stocks, futures are implying a higher opening:
- S&P is 10 points
- Dow is up 101 points
- Nasdaq is up 19 points
In Europe, the major indicesa are correcting higher as well:
- German Dax, +0.8%
- France's CAC, +0.8%
- UK FTSE +0.8%
- Spain's Ibex, +0.8%
- Italy's FTSE MIB+1.35%
In the US debt market, yiels are little changed (tilting to the downside):
In the European market, investors are flocking into the Italian 10 year notes (down -7.5 bps) and the other "riskier" country bonds as risk on flows are more dominant today.
