The USD is higher
Today is Labo(u)r Day in both Canada and the USA. US and Canada financial institutions will be closed. If you are expecting the mail, think twice as well. However, although closed, the forex market will not sleep. The markets are indeed open with European traders doing the heavy lifting (mainly).
To start the European afternoon session the JPY, AUD and USD are near a dead heat for the strongest of the majors, while the GBP is the weakest. The market is focused on the Brexit negotiations and the optics are not positive for a deal at this point. That has traders trending the GBP pairs to the downside.


In other markets:
- Spot gold is trading down $6.30 or -0.32% at $1927.68
- Spot silver is trading down $0.14 or -0.54% at $26.76
- WTI crude oil futures are trading down $0.61 or -1.53% at $39.16
US stock market the E-mini futures on the CME is trading. It is currently trading up 7.0 points at 3424.50 as a measure of the closed US markets. The S&P index is closed for trading today as is the Nasdaq and NY stock exchanges. Recall on Friday, the US major indices ended lower with the NASDAQ index down -1.27%, the S&P index down -0.81% and in the Dow industrial average down -0.56%
In the European equity markets, the major indices are trading higher:
- German DAX, +1.7%
- France’s CAC, +1.63%
- UK FTSE 100, +2%
- Spain’s Ibex, +1.2%
- Italy’s FTSE MIB, +1.46%
US debt markets are closed today. On Friday the closing levels showed:
- 2 year note 0.142%
- 5 year note, 0.2991%
- 10 year note 0.718%
- 30 year bond, 1.471%
In the European debt market the 10 year benchmark year yields are trading mixed with German and UK yields lower, Italy and Portugal yields are higher. France and Spain harm unchanged
