The AUD was boosted by the follow through buying after China government and central bank put their support behind the stock market and economy on Wednesday. The AUD also benefitted from a strong employment report that showed a gain in employment of 77.4K vs 36.0K. The unemployment rate also fell from 4.2% last month to 4.0% this month. The GBPUSD is lower after the BOE raise rates by 25 basis points as expected.
The Russia Ukraine war continues with Russia bombing a theater that provided shelter for children. Yesterday Biden called Russian Pres. Putin a war criminal. Russia shot back in defense and also called domestic resistance “scum and traitors”. Some think the chance for a diplomatic solution is now farther away.
A snapshot of markets currently shows:
Spot gold is up $12.60 or 0.62% at $1939
Spot silver is up $0.16 or 0.61% $25.24
WTI crude oil is back above $100 at $100.38 that’s up $5.40
the price of bitcoin is trading at $41,100. After trading as high as $41,497 and is lows $40,496
In the premarket for US stocks, the major indices are trading marginally lower:
Dow industrial average -112 points after yesterday’s 518.76 point rise
S&P index -17.81 points after yesterday’s 95.41 point rise
NASDAQ index -71 points after yesterday’s at 487.93 point rise
In the European equity markets, the major indices are trading mixed:
German DAX -0.6%
France’s CAC unchanged
UK’s FTSE 100 +0.5%
Spain’s Ibex -0.3%
Italy’s FTSE MIB -0.9%
In the US debt market, yields are lower after yesterday’s move to the upside especially in the short end. The two – 10 year spread is down to 21.1 basis points.