The AUD is the strongest and the USD is the weakest as the NA session begins.

The AUD AUD The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank The Australian dollar (AUD) is the official currency of Australia, which is also used in Christmas Island, Cocos (Keeling) Islands, Norfolk Island, as well as independent pacific states.Introduced in 1966, the AUD is currently the fifth most traded currency in the world, behind only the US dollar, euro, Japanese yen, and British pound.The currency is very important to forex markets and is routinely used as a carry trade against other majors.The Reserve Bank of Australia (RBA) is the central bank Read this Term is the strongest and the USD is the weakest as the North American session begins. The Jackson Hole Symposium starts today. Comments from Esther George in a recorded interview with CNBC said that the Fed needed to find monitored conditions further to slow down demand and inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term. She characterized policy not at a restrictive level. Fed's Bostick also spoke and said he is unsure of 50 or 75 basis points.

German GDP came in a little better than expected as did their IFO business climate although levels remain relatively lower. The EURUSD spiked higher trading to a high of 1.0033 and toward the highs from Monday (1.00459), but has since backed off and trades above and below the 100 hour MA at 0.9978 (and back below the 1.0000 level. In Europe, the news as a result of the higher energy prices is starting to boil. Fertilizer makers, zinc and aluminum smelters are looking to idle capacity. The implications for other products down the line and food prices in the future points to the upside. Dutch DTF natural gas moved above 300 and trades at 313.40 up 7.27% on the day.

US stocks are higher in premarket trading ahead of the second cut of US GDP is expected to come in at -0.8% (vs -0.9% originally reported), and the weekly jobless claims which surprisingly dip to 250K last week from levels above 260K more recently.

In other markets:

• Spot gold is trading up $13.82 or 0.79% at $1765
• Spot silver is trading up $0.23 or 1.21% at $19.33
• WTI crude oil is tradingup $0.37 at $95.27
• Bitcoin is trading at $21,699. The high price reached $21,813. The low price reached $21,319

In the premarket for US stocks the major indices are higher after closing higher yesterday snapping a three-day decline.

• Dow industrial average is up 114 points after yesterday's 59.64 point rise
• S&P index is up up 26 points after yesterday's talk .04 point rise
• NASDAQ index is up 90 points after yesterday's 50.23 point rise

In the European equity markets, the major indices are trading mixed

• German DAX 52.93 points or 0.40%
• France's CAC up 12.99 points or 0.20%
• UK's FTSE 100 up 22.2 points or 0.3%
• Spain's Ibex up 3.90 points or 0.05%
• Italy's FTSE MIB up 53 points or 0.24%

In the US debt market, the yields are trading lower after solid gains yesterday. The treasurer will auction 7 year notes at 1 PM ET. The 2 and 5 yea options this week have been poorly received by both domestic and international purchasers.

• 2 year yield 3.368%, -2.5 basis points
• 5 year yield 3.25%, -5.0 basis points
• 10 year yield 3.095%, -1.4 basis points
• 30 year 3.303%, -1.4 basis points

In the European debt market the benchmark 10 year yields are trading lower: