The USD is stronger
The EUR is the strongest after the interest rate decision by the ECB (no changes in the rates nor the dynamics of the statement – Lagarde to address the press at 8:30 AM ET), and the NZD is the weakest. US and European stocks are lower in pre-market trading with the Nasdaq leading the way to the downside. The Twitter hack is weighing more on the high flying Nasdaq accounts. The USD is higher against all the major currencies with the exception of a small decline vs the EUR.
The ranges and changes are modest with the ranges well below the 22 day averages. The largest move vs the USD moved 74 pips but is trading midrange after trending lower earlier.
In other markets:
- Spot gold is not following the flight to safety theme as it is trading lower by -$-5.22 or -0.29% at $1804.97. The high reached $1813.48. The low extended to $1802.97.
- WTI crude oil futures are trading down $0.38 or -0.92% at $40.82. The high reached $41.18. The low extended to $40.60
In the premarket for US stocks the futures are implying a lower opening after the move higher yesterday. The S&P and NASDAQ have been up 2 days in a row. The Dow is on a 4 day winning streak. Those streaks are in jeopardy today
- S&P index is trading down -19 points
- NASDAQ index is trading down -137 points
- Dow industrial average down -160 points in Christ
In the European markets, the major indices are also trading lower before the Lagarde press conference
- German DAX, -0.6%
- France’s CAC, -0.75%
- UK’s FTSE 100, -0.4%
- Spain’s Ibex, -0.57%
- Italy’s FTSE MIB, -0.1%
In the US debt market, yields are lower with the yield curve is marginally lower as well:
In the European debt market, the benchmark 10 year yields are trading mostly lower.