The EUR is the strongest and the CHF is the weakest as the North American session begins. The markets USD is moving more to the upside. The key US CPI report will be released tomorrow at 8:30 AM ET. SF Fed President Mary Daly said this week it is all about CPI services less housing. Where is that measure of inflation? CLICK HERE.
More airline flight problems in the US as the FAA has shut down all flights from taking off due to computer issues.
The markets will be eyeing the oil inventory data today. Late yesterday, the private data was released and showed a huge 14M barrel increase, the largest in 2 years. The EIA data will be released at 10:30 AM. The price of crude oil is up about $0.59 despite the large increase in inventories.
In other markets:
- spot gold is near unchanged at $1876.50
- spot silver is up $0.17 or 0.70% at $23.77
- WTI crude oil is trading up $0.62 at $75.72
- Bitcoin is trading at $17,422, that is down about $30 from the near 5 PM level yesterday
In the premarket for US stocks are trading higher with the NASDAQ index up for the fourth consecutive day:
- Dow Industrial Average is up 84 points after yesterday's 186.45 point rise
- S&P index is up 11 point after yesterday's 27.16 point rise
- NASDAQ index is up 31 points after yesterday's 108.98 point rise
in the European equity markets, the major issues also trading higher:
- German DAX, +1.05%
- France's CAC up 0.97%
- UK's FTSE 100 of 0.77%
- Spain's Ibex up 0.15%
- Italy's FTSE MIB up 0.54%
in the Asian-Pacific markets, the major indices were mixed
- Japan's Nikkei index +1.03%
- Hang Seng index up 0.49%
- New Zealand's 50 index -0.24%
- Australia's S&P/ASX index +0.9%
- Shanghai composite index -0.24%
In the US debt market, yields trading lower after yesterday's rise saw the 10 year yield rise close to 10 basis points. Today the US treasury will auction off tenure notes at 1 PM ET:
- 2 year 4.243%, -1.5 basis points
- 5 year 3.694% -3.8 basis points
- 10 year 3.574% -4.5 basis points
- 30 year 3.694% -610 basis points
In the European debt markets, the benchmark 10 year yields are moving lower:
