The JPY is the strongest and the CHF is the weakest as the NA session begins. The currencies are fairly scrunched together with modest moves vs the close from yesterday. Most of the major pairs have seen up and down (or down and up) price action. The JPY rallied in the face of the shocking assassination of former PM Abe, but is off it's highs as well. Today the US jobs report will be released at the bottom of the hour with the expectations for a slower gain of 268K vs 390k last month. The 3 month average is 408K. The unemployment rate is expected at 3.6% (unchanged) with earnings expected at 0.3% (vs 0.3% last month). The YoY is expected to decline to 5.0% from 5.2% last month. Canada will also release their jobs report with employment change at 23.5K vs 39.8K and unemployment rate at 5.1% vs 5.1% last month. The CAD is mixed/modestly lower ahead of its report.
In other markets:
- Spot gold is trading up $1.79 or 0.10% at $1741.91
- Spot silver is down 3.5 cents -0.18% at $19.17
- WTI crude oil futures are trading near unchanged $102.74
- The price bitcoin has dipped back below the $22,000 level at $21,560.60 after trading as high as $22,401 earlier today
In the premarket for US stocks, the major indices are mixed after yesterdays gains after yesterdays gains. Stocks are on pace for a winning week which would be the 2nd in the last 3 trading weeks. The NASDAQ and S&P are on 4 day win streak. The futures are implying:
- Dow industrial average is up 20.45 points. Yesterday the index rose 346.87 points
- S&P index down -5.17 points after yesterdays 57.54 point rise
- NASDAQ index -49.55 points after yesterdays 259.49 point rise
In the European equity markets, the major indices are mixed:
- German DAX, +111 points or 0.87%
- France's CAC +8.28 points or +0.14%
- UK's FTSE 100 -37.28 points or -0.52%
- Spain's Ibex -24 points or -0.30%
- Italy's FTSE MIB +150 points or +0.70%
In the US debt market, the yields are lower:
- 2 year 3.002%, -1.6 basis points
- 5 year 3.015%, -2.2 basis points
- 10 year 2.978%, -2.2 basis points
- 30 year 3.182%, -0.7 basis points
