The new week is off and running
As the week gets underway, the USD is the strongest and the CHF is the weakest. The CAD is fighting the USD for the strongest of the majors. Pres. Trump signed 4 executive orders to front run the legislative process including $400 in emergency unemployment benefits including the first $100 from the states. Stocks are higher. Precious metals are mixed. Oil is higher after Aramco gave an upbeat assessment of demand. Yields are lower.
The ranges are mixed with USDCAD, AUDUSD and NZDUSD with modest ranges less than 34 pips. The USDCHF is the biggest mover with a 54 pips movee higher as it trends (it was only down briefly today). The EURUSD and GBPUSD were higher earlier but have reversed lower.
IN other markets:
- Spot gold is trading down $1.95 or -0.10% at $2033.68
- Spot silver is trading up $0.17 or 0.62% of $28.48
- WTI crude oil futures are trading up $0.63 or 1.53% at $41.85
In the premarket for US stocks the major indices are trading marginally higher with the Dow leading the way:
- Dow industrial average is up 84 points
- S&P index is up 2.47 points
- NASDAQ is unchanged
in the European equity market, the major indices are marginally higher:
- German DAX, +0.2%
- France's CAC, +0.42%
- UK's FTSE 100, +0.3%
- Spain's Ibex, +0.8%
- Italy's FTSE MIB, +0.3%
US yields are trading down around 1 basis point across the curve:
In the European debt market, the lower by 1 to 3 basis points with the France yield leading the way to the downside at -3 basis points.
