The USD is mostly lower
As the North American session begins, the GBP is the strongest and the AUD is the weakest. The GBPUSD has been able to extend back above the 200 hour MA at 1.2951, the 200 day MA at 1.29598 and the 100 day MA at 1.29652. That ignited more upside in the GBPUSD (and other GBP pairs in the process). We traded up to 1.3017 in the GBPUSD – just short of the April 23 high at 1.30184. For the AUD, the China PMI was weaker than expectations sending the AUD lower.
The ranges and changes are showing the GBP pairs outpacing the other pairs and trading near the extremes for the day (at the GBP highs). The EURUSD, USDJPY, USDCAD are trading at the low USD levels at the start of the North American session.
In other markets:
- Spot gold is up $5.50 or 0.44% at $1285.47
- WTI crude oil futures higher by $0.94 or 1.49% at $64.45
In the pre-market for US stocks, the major indices are trading mixed with the Nasdaq down. Alphabets revenues were a miss last night and that is hurting the Nasdaq. Other tech major tech stocks are also lower. Apple reports after the close. McDonalds is lifting the Dow in early trading. .
- Dow, +90 points
- Nasdaq,-44 point
- S&P, unchanged
In the European markets, indices are mixed
- German Dax, +0.03%
- France’s Cac -0.18%
- UK FTSE -0.12%
- Spain’s Ibex +0.05%
- Italy’s FTSE MIB +0.35%
In the US debt market yields are marginally higher in trading today:
European 10 year benchmark yields are mixed: