The CHF is the strongest and the USD is the weakest as the NA session begins. The USDCHF is now down for the 4th consecutive day after 6 weeks of trend growth to the upside. Stocks in the premarket are lower but off their lowest levels. Yields are lower for the 2nd consecutive day with the 10 year yield at 2.84% vs 3.203% at May 9th. The price of oil is lower as talk of China buying Russian oil helps by not shutting out Russia oil completely on the supply front. Gold is higher in reaction to the lower dollar.
A snapshot of other markets is showing:
- Spot gold is trading up $13.35 or 0.74% at $1829.04
- Spot silver is up $0.26 1.24% at $21.66
- WTI crude oil is trading at $107.33 down $1.75
- Bitcoin is trading at $29,407. The prices been above and below the $30,000 level over the last few days, but today's high is so far stayed below that key barometer
In the premarket for US stocks, the futures are implying a lower opening after yesterdays a tumble lower
- Dow industrial average -285 points after yesterdays -1164.5 point decline
- S&P index is down -36 points after yesterdays -165.17 decline
- NASDAQ index down -111 points after yesterdays -566.37 point decline
In the European equity markets the major indices are all in the red:
- German DAX -1.6%
- France's CAC -1.8%
- UK's FTSE 100 -2.0%
- Spain's Ibex -0.9%
- Italy's FTSE MIB -0.8%
In the US debt market, yields are lower across the board as concerns about growth and recession increase. Yields are near low levels for the day
- 2 year 2.621%, -4.5 basis points
- 5 year 2.836% -5.4 basis points
- 10 year 2.826% -5 point basis points
- 30 year 3.007% -6.3 basis points
