The strongest to the weakest of the major currencies

As UK PM Minister Boris Johnson resigns, the AUD is the strongest and the CHF is the weakest of the major currencies . The GBP moved higher after word started to trickle out today, but the GBP has started to move back to the downside. The GBPUSD moved up to test it's falling 100 hour MA and found sellers leaning against the level which helped to slow the rise. China is reported to eyeing a new stimulus to help boost their economies.

The USD is lower to start day. IN the UK, the FTSE 100 is positive on the day with gains over 1%. US stocks are marginally higher after modest gains yesterday saw the major indices rise about 0.25% to 0.35%. The S&P is working on the 3rd day to the upside. The US yields are marginally lower. Crude oil is higher but stays below $100. The price of gold is marginally higher.

The US and Canada trade balance and weekly jobless claims will be released at the bottom of the hour. The claims are expected at 230K after last weeks 231K number. The US trade deficit is expected at -85.0B vs -87.1B last month. The US monthly jobs report will be announced tomorrow with expectations of 275K rise after last months 390K gain.

Looking at other markets:

  • Spot gold is up $5.56 or 0.32% $1744.29
  • spot silver is up $0.20 or 1.04% at $19.40
  • WTI crude oil is up $1.35 at $99.36
  • The price bitcoin is trading at $20,475 that's up $135 or 0.67%

In the pre-market for US stocks, the futures are implying a marginally higher opening

  • Dow industrial average is up 158 points after yesterdays 69.86 point rise
  • S&P index up 16.25 points after yesterdays 13.71 point rise
  • NASDAQ index is up 59 points after yesterdays 39.61 point rise

In the European equity markets the major indices are also trading higher after the Johnson resignation

  • German DAX, up 210 points or 1.67%
  • France's CAC up 90.12 points or 1.52%
  • UK's FTSE 100 points or 1.2%
  • Spain's Ibex 142 points or 1.79%
  • Italy's FTSE MIB up 2.06%

The US debt market, yields are moving higher after yesterdays solid move to the upside:

The US yields are higher

In the European debt market the benchmark 10 year yields are also moving to the upside. UK yields are up 2.2 basis points at 2.113% but is off its high of 2.195%.

European benchmark 10 year yields are higher

It is good to be back!