The USD is the strongest and the NZD is the weakest as North American traders enter for the day. The US traders are returning after the 3-day Memorial Day holiday.
It is month end today, which can influence flows. US stocks are lower. Oil is higher as the EU agrees to Russia oil embargo from the end of the year (with caveats). Crude oil traded to $119.40 today. US yields are higher across the board. The EU flash inflation reached 8.1%, a 23 year record.
The US will have S&P/Case Schiller home price data. The housing market data from Existing home sales to new home sales to pending home sales were all negative this month as higher rates and higher prices hurt sentiment. The YoY figure is expected to be up 20.0%. Consumer sentiment will also be released for May and is expected to dip to 103.9 (from 107.3). Canada will release their GDP at 8:30 AM.
A snapshot of the markets are showing:
- Spot gold is trading down -$4.47 or -0.24% at $1851.75
- Spot silver is down -$0.41 or -1.89% at $21.56
- WTI crude oil is trading at $118.58. That's up from the closing level on Friday at $115.07
- Bitcoin is trading moved higher over the weekend and currently trades at $31,754
In the premarket for US stocks, the futures markets are implying a lower opening
- Dow is trading down -240 points after Friday's 575.77 point rise
- S&P index is down -30 points after Friday's 100.38 point rise
- NASDAQ index is down -44 points after Friday's 390.48 point rise
In Europe: the major indices are trading lower as well (the UK FTSE 100 is the exception)
- German DAX is down -1.0%
- France's CAC is down -1.1%
- UK's FTSE 100 up 0.3%
- Spain's Ibex is down -0.55%
- Italy's FTSE MIB is down -0.9%
The US debt market this morning, yields are trading lower medicine
In the European debt market yields are also higher after the inflation data this morning:
