The USD is mixed
As the North American market starts, the AUD is the strongest and the GBP is the weakest (Parliamentary vote for Brexit concerns). The USD – which fell sharply yesterday – is trading mixed with gains vs GBP and CHF, declines vs JPY and AUD and near unchanged vs EUR, CAD and NZD.
The GBP pairs are all trading near extremes with the GBP the weakest. The GBPJPY and GBPAUD are getting hit the hardest and are trending lower.
A snapshot of other instruments at the start of the New York session shows:
- Spot gold, is up $5.95 or 0.48% $1227.06
- WTI crude oil futures $.54 or 1.09% $50.84. The price did dip to below $50 but chatter of a cut back in production with Russia cited, has helped to push the price back higher.
- Bitcoin on Coinbase is up $91.67 at $4311.67. The price remains above its 200 hour moving average which comes in at $4094.04 currently. It is bullish if the price can stay above that MA level.
US stock futures are applying a lower opening after the 600 point rise in the Dow and a 200 point rise in the NASDAQ yesterday:
- Dow futures imply a -59 point decline
- NASDAQ futures imply -37 point decline
- S&P futures imply a -10 point decline
European shares are trading higher. Most of the US gains yesterday came after the European close. So there was some catch up.
- German DAX, +0.28%
- France’s CAC, +0.69%
- UK’s FTSE, +0.78%
- Spain’s Ibex, unchanged
- Italy’s FTSE MIB, unchanged
In the US debt market, yields are lower with declines in the longer end outpacing the rise in the shorter end. The 10 year yield did move below the 3.0% at the lows today.
European benchmark 10 year yields are also lower across the board.