The strongest to weakest of the major currencies

The AUD is the strongest and the CHF (and EUR) is the weakest of the major currencies. The USD is mixed to lower with the dollar's decline vs the AUD and the NZD accounting for all of the declines. The USD is modestly changed vs the EUR, GBP, JPY, CHF and CAD (gains or losses of 0.08% or less changes on the day).

Russian forces moved toward the Ukraine capitol of Kyiv, with missile strikes against airports and military infrastructure across the country limiting the potential response from the countries military (reports of 70 military targets hit). The Russian army is pushing in from the north, west and south - virtually from all directions where Russia controlled land and Ukraine land touch (and from the sea).

The US and other NATO allies are imposing economic sanctions in an attempt to impose financial pain from the isolation from the rest of the world.

The Russian troop advancement into Ukraine (NY TImes)
US yields are higher with a flatter yield curve

US shares are lower in pre-market trading but off overnight lows after the sharp rebound yesterday. The European shares are higher, as they played catch up to the late afternoon surge in the US.

Crude oil is higher on the day. Gold is modestly higher after giving up gains yesterday. Gold is back trading above and below $1900 after reaching up to $1976.65 in a flight to safety bid yesterday.

Wheat stayed limit up yesterday at $9.34 per bushel, and moved higher to $9.60 when limits were expanded today, but moved off of limit high levels in after hour trading moving to $8.92 low (closed overnight trading at $9.08). Corn also moved lower after peaking at $7.18. It traded to a low of $6.66 (that is an interesting number) overnight before settling at $6.82.

Focus will return (at least temporarily) to US data today with Core PCE (est 0.5% and 5.1% vs 4.9% last), preliminary durable goods orders, personal income and personal spending all schedule to be released at 8:30 AM.

At 10 AM, the revised University of Michigan consumer sentiment and US pending home sales will be released

A snapshot of the markets currently shows:

  • Spot gold is trading up $2.40 or 0.13% at $1905.28
  • Spot silver is trading up up three cents or 0.19% at $24.25
  • WTI crude oil is trading up up $0.52 at $93.31
  • Bitcoin is trading up $537 at $38,914

In the premarket for US stocks, the major indices are down modestly and off their lowest overnight levels. Yesterday losing streaks in all the major indices were snapped

  • German Dax, +1.8%
  • France's CAC, +1.9%
  • UKs FTSE 100, +2.5%
  • Spain's Ibex, +1.7%
  • Italy's FTSE MIB, +2.0%

In the US debt market, yields have moved higher after declines seen yesterday and flight to safety flows:

In the European debt market, yields are also mostly higher.

European yields
European yields are mostly higher