The last day of the month of June
As North American traders enter for the day, the USD is the strongest. The EUR is the weakest of the majors. It is the last day of the month of June today (and the 2Q). The Nasdaq is on track for the best quarter since Q4 2001 and recovered 4.05% in June (right now). Powell testifies today along with Treasury Secretary Mnuchin.
The ranges and changes are modest with all the major pairs trading well below their 22 day averages (about a month of trading). The EURUSD and GBPUSD are trading neart hte lows for the day while the USDJPY trades near the highs. The JPY pairs are modestly lower.
In other markets:
- Spot gold is trading down $-4 or -0.23% at $1768.82
- WTI crude oil futures are trading down $0.70 or -1.74% at $39.01
in the US stock market the premarket futures are mixed:
- Dow industrial average -38 points
- NASDAQ index +12 points
- S&P index, unchanged
in the European equity market the major indices are trading mixed as well
- German DAX, +0.24%
- France's CAC, unchanged
- UK FTSE 100, -0.6%
- Spain's Ibex, -0.6%
- Italy's FTSE MIB, -0.3%
In the US debt market yields are trading near unchanged. The yield curve is little change from yesterday's trade with the 2 – 10 year spread of 48 basis points vs. 47.5 basis points the close yesterday
In the European debt market, the benchmark 10 year yields are trading lower with investors plowing more funds into the Italian 10 year at -4.9 basis points:
