The EUR is the strongest and the AUD is the weakest as the NA session begins

The USD surged yesterday as stocks crashed (NASDAQ down -5%), yields surged and flows into the greenback dominated.

Today, the EUR is the strongest and the AUD is the weakest as traders focus their attention on the US jobs report to be released at 8:30 AM ET which is expected to show a 390K increase in jobs with earnings expected to rise 0.4% (same as last month). The unemployment rate is expected at 3.5% vs. 3.6% last month The participation rate is expected to remain at 62.4%. Canada will also release their jobs report (+55K vs 72.5K last month).

Also of interest it will be comments from a slew of Fed officials to days after the FOMC decision including New York Fed Pres. Williams Minneapolis Fed Pres. Kashkari, Atlanta Pres. Bostic Gov. Christopher Waller and St. Louis Fed Pres. Bullard and San Francisco Pres. him Daly. Where are rates going? How fast? And what is expected terminal rate?

ECB's Villeroy spoke today and implied the possibility of 2 rate hikes in 2022. There is more chatter from ECB officials about launching earlier rather than later. That is helping to give the EUR some lift.

A look at the other markets in the morning snapshot shows:

• Spot gold is up $6.55 or 0.35% at $1883.25
• Spot silver is down $0.05 or -0.22% at $20.44
• Crude oil is trading higher by $1.90 at $110.27
• Bitcoin is trading down $730 and $35,818. That is the lowest level since February 23

In the premarket for US stocks, the futures are implying lower levels after yesterdays sharp falls which is all the Dow fall over 1000 points in the NASDAQ fall nearly 5%

• Dow industrial average is down 80 points after yesterdays 1063.09 point tumble
• S&P is down - -12 points after yesterdays -153.3 point decline
• NASDAQ index is down -49 points after yesterdays -647.16 collapse

In the European equity markets, the major indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Read this Term are following through through the downside after the US collapse into the close

• German DAX, -1.4%
• France's CAC, -1.4%
• UK's FTSE 100 -1.0%
• Spain's Ibex -0.8%
• Italy's FTSE MIB -0.6%

In the US debt market, yields continued their move to the upside today

• 2 year 2.747%, +2.3 basis points
• 5 year 3.048%, +2.3 basis points
• 10 year 3.081% up 1.3 basis points. Yesterday at this time the yield was at 2.932%
• 30 year 3.164%, unchanged. The yield Yield A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as A yield represents the earnings generated by an investment or security over a certain time period. Yields are typically displayed in percentage terms and are in the form of interest or dividends received from it.These figures do not include the price variations, which separates it from the total return. Consequently, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as Read this Term was at 3.01% at this time yesterday.

In the European debt market, the benchmark 10 year yields are mostly higher with the UK the exception: