The USD is lower.
As the North American traders enter for the day (and the week), the GBP is the strongest of the major currencies while the AUD is the weakest. The GBP trended to the downside last week. For today the currency is correcting and trending more to the upside. The USD is mostly lower with modest declines vs. the EUR, JPY, CHF, CAD. It has moved the most vs. the GBP (-0.64%) and the NZD (-0.36%). The greenback is only higher vs. the AUD today.
The ranges and changes are skewed with the GBP pairs leading the way. The GBPUSD is up 82 pips with a range of 106 pips. The other major pairs vs the USD had ranges of between 49 pips (NZDUSD) and 24 pips (AUDUSD). The EURUSD only has a 47 pip range vs a 22 day average of 84 pips.
In other markets:
- Spot gold is trading up $7.92 or 0.43% at $1948.44
- Spot silver is trading up $0.19 or 0.72% at $26.92
- WTI crude oil futures are trading down $0.24 or -0.64% of $37.09
In the US stock market, the major indices have recovered. Last week the NASDAQ fell the most since March. The Dow rose 131 points on Friday. The S&P rose 1.78 points but the Nasdaq fell 66.05 points. The futures are implying:
- Dow up 174 points
- S&P up 31 points
- Nasdaq up 107 points.
In the European equity market, the major indices are trading mixed:
- German DAX, -0.1%
- France’s CAC, +0.3%
- UK’s FTSE 100, unchanged
- Spain’s Ibex, +0.3%
- Italy’s FTSE MIB, unchanged
In the US debt market, yields are up marginally with gains of less than 1 basis point across the curve:
In the European debt market, the benchmark 10 year yields are mixed. The Italy’s 10 year yield is the biggest mover with a gain of 2.8 basis points. Spain’s 10 year fell the most among the major countries with a decline of -1.9 basis points :
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