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

The AUD is the strongest and the CHF CHF The Swiss franc or Confoederatio Helvetica (CHF) is the official currency of Switzerland and Liechtenstein. The CHF is currently the seventh most-traded currency in the world and is treated as a significant reserve currency.Unlike other currencies in the world’s leading economies, the CHF was notable for its currency peg with the euro (EUR). Started in 2011, the Swiss National Bank (SNB) pegged the CHF to the EUR at a minimum exchange of 1.2.At the time, the peg was justified due to the strong C The Swiss franc or Confoederatio Helvetica (CHF) is the official currency of Switzerland and Liechtenstein. The CHF is currently the seventh most-traded currency in the world and is treated as a significant reserve currency.Unlike other currencies in the world’s leading economies, the CHF was notable for its currency peg with the euro (EUR). Started in 2011, the Swiss National Bank (SNB) pegged the CHF to the EUR at a minimum exchange of 1.2.At the time, the peg was justified due to the strong C Read this Term is the weakest as the North American session begins. The weekly initial jobless claims, Philly Fed Manufacturing index (remember Empire Manufacturing plunged to -31.3 on Tuesday vs 11.1 the previous week), and Canada producer prices will be released at the bottom of the hour. Existing home sales and Leading index will be released at 10 AM ET. Home sales data is gettting weaker and weaker. The expectations is for a fall in the sales pace to 4.89M vs 5.12M last month (you have to go to June 2020 at 4.72M. It was as high as 6.5 in January. The level before the pandemic was around 5.4M as a guide. The Leading index has been negative for 4 consecutive months foreshadowing lower economic growth.

Russian Pres. Putin said that he could meet with Ukraine president Zelinsky.

ECB's Schnabel says a recession alone would not be enough to control inflation and that fiscal and structural policies are required to tame the price rises.

A look around the markets are showing:

• Spot gold Gold Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Gold is the most widely traded and important commodity. Prized for its historical importance and used for trading an exchange of goods, the gold market today is estimated at nearly $2.4 trillion.The value of gold fluctuates constantly, as it trades on public exchanges where it has a price that is determined by supply and demand. Gold has historically had tremendous significance and even today is extremely sought after. Gold has been used as a currency as it doesn't corrode, and the material allo Read this Term is trading up $9.08 or 0.52% at $1770.58.
• Spot silver is up $0.14 or 0.73% at $19.90.
• WTI crude oil futures are up $1.09 at $89.22.
• The price bitcoin is trading at $23,532 after trading as low as $23,296 in trading today

In the premarket for US stocks, the major indices are trading higher after yesterdays declines

• Dow industrial average up 75 points after yesterdays -171.69 point decline
• S&P index up 11 points after yesterdays -31.16 point decline
• NASDAQ index up 49 points after yesterdays -164.43 point decline

In the European equity markets, the major indices are trading higher:

• German DAX up 0.72%
• France's CAC up 0.4%
• UK's FTSE 100 up 0.1%
• Spain's Ibex up 0.25%
• Italy's FTSE MIB up 0.6%

In the US debt market, yields are lower after the FOMC meeting minutes yesterday. Next week is the Jackson Hole Summit. There is chatter that the Fed would have to be more hawkish in order to stave off an overly positive and stimulative market expectations (i.e.lower yields, higher stocks) him.

In the European debt market, yields are mixed