The USD is the strongest and the EUR is the weakest as the NA session begins

The USD is the strongest and the EUR is the weakest as the North American session begins.

Overnight the UK PPI inflation hit a 30 year high at 6.2% and was above expectations. The GBP moved lower as the BOE’s response and the threat of continued inflation, is likely to weigh on the economy and growth. The UK budget will be released.

Russia continues to say they are progressing according to plan,and that plan – according to Italy’s Draghi – has no plans for peace. PS.Russia closed the Caspian Pipeline Consortium’s export terminal to fix storm damage. The pipeline supplies some 700,000 bpd to the export market.

US stocks are trading lower today after the major indices pushed higher yesterday led by the Nasdaq which was up near 2%. US yields are taking a breather (although the 10 year did reach a new high of 2.417% overnight before coming back down). The benchmark yield is trading above and below unchanged. The US treasury will auction $16 billion of 20 year notes at 1 PM ET. Crude oil is trading back above $112 (actually near $112.50). Gold is higher.

A snapshot of the markets currently shows:

• Spot gold up $8.30 or 0.44% at$1929.12
• Spot silver is up $0.22 or 0.98% at $24.99
• WTI  crude oil 
  Crude Oil
  
  Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways.  The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments.  Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
  
  Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways.  The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments.  Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
  Read this Term is trading at $112.16. That’s up $2.87
• Bitcoin is trading at $42,032 which is down around $360 on the day