The USD is a little lower
The AUD is the strongest and the CHF is the weakest. China trade and Brexit continues to be the focus of the market. China says they can outlast the US in a trade war. PM May is reported to have rejected Barnier’s Irish Brexit proposal. That reversed the GBP after it rallied earlier on a stronger CPI. The USD is a little lower with declines vs the AUD, NZD and CAD for the 2nd day in a row despite the US/China trade war.
Looking at the changes and ranges, the USDJPY has hardly moved. The GBPUSD is hanging around unchanged on the day but has been much higher and much lower too. The USDCHF is trading near the high (higher dollar) but the AUDUSD and NZDUSD are also higher (lower dollar) as they get squeezed a bit after the trade tariffs did not send those currencies lower. The markets are a bit unsettled.
In other markets:
- Spot gold is up $3.50 or 0.31% at $1202
- WTI crude oil futures are trading near unchanged at $69.83
- Bitcoin is trading down =$36 at $6281
IN the premarket futures market, US stocks are lower:
- Dow is implying a -6 point decline
- S&P is implying a =4 point decline
- Nasdaq is down -15 points
Don’t mess with the Canadian marijuana company Tilray. After rising over 25% yesterday, it is trading up $71 at $226.
European stocks are showing:
- German DAX of 0.1%
- France’s CAC up 0.2%
- UK FTSE is up 0.15%
- Spain’s Ibex is down -0.20%
- Italy’s FTSE MIB is down -0.5%
IN the US debt market, yields are down marginally after the 10 and 30 year notes/bonds reached 4 month highs yesteday:
The European 10 year benchmark yields are mixed: