Dollar continues its move higher

As North American traders enter for the day, the USD is leading the charge as the strongest of the major currencies, while the AUD is the weakest. Stocks are a little lower in pre-market trading. Yields are lower after an down and up day in the 10 year yields yesterday. Oil is up after flirting with $20 yesterday (closed at the lowest level since 2002).

Dollar continues its move higher

The ranges and changes are showing the major indices vs the USD are showing less volatility with the ranges below the 22 day averages at the start of the session (see red line in the lower chart below). The major pairs vs the USD are mostly nearer the dollar low extreme. The exception is the GBPUSD which moved lower in the Asian session only to rebound toward mid-range. The EURUSD fell below its 100 hour MA at 1.09969 (and the 1.1000 level in the process). The USDJPY is above its 200 day MA at 108.29. The USDCAD kept below its 100 hour MA yesterday, but extended above in the Asian session (at 1.41398 currently) and moved higher through the European session.

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading down $-16.28 or -1% at $1606.41
  • WTI crude oil is trading up $1.11 or 5.53% at $21.20

In the premarket for US stocks, the futures are moving to low levels of the day

  • S&P, -27 points
  • Nasdaq -61 points
  • Dow -220 points

In the European stock market, the major indices

  • German Dax -0.7%
  • France's CAC -1.3%
  • UK FTSE 100 -0.13%
  • Spain's Ibex, unchanged
  • Italy's FTSE MIB -0.9%

In the US debt market the US yields are trading mixed with the yield curve flattening a bit. The 2 year yield is up modestly while the 10 year yield is down -3.0 basis points. The 2- 10 year spread is narrowed from 49.83 basis points at the close yesterday to 46.4 basis points currently.

The US yields are mostly lower

In the European debt market the benchmark 10 year yields are trading mostly higher with the UK 10 year the exception at -0.8 basis points

the european yields are mostly h himigher