The USD is lower/mixed/little changed
As North American traders enter for the day, the GBP is the strongest taking its cue from higher earnings (ignoring Brexit/no-deal potential). The JPY is the weakest as stocks have more of a calm today (US pre-market is higher). The NZD moved higher in the first hour of the day on better than expected CPI data (0.9% vs 0.7% expected).
The USD is showing little changes vs EUR, CHF AUD and declines vs the GBP (-0.50%), NZD and CAD. The dollar is higher vs the JPY. A more lower, mixed, little changed day all in one.
There is not a lot of volatility as most of the major pairs vs the USD have ranges of 44 pips or lower for the day. Those are well below their 22-day averages. GBP pairs show the most volatility and are trading near extremes entering the day.
In other markets:
- Spot gold is up $3 or 0.26% at $1230
- WTI crude oil is down $0.42 reversing the modest gains from yesterday’s trading at $71.35.
- Bitcoin is up $61 at $6451 on Coinbase. The 100 day MA is at $6758.86. The high reached $6493.11 today so far
In the pre-US stock opening, futures are implying a higher opening:
- S&P index up 11 points
- Dow industrial averageup 122 points
- NASDAQ up 50 points
In Europe, stocks are higher:
- Stoxx up 1%
- German Dax up 0.7%
- UK FTSE unchanged
- France’s Cac up 0.7%
- Spain’s Ibex up 1.3%
- Italy FTSE MIB up 1.2%
IN the US debt market a snapshot is showing yields are higher by about 2 bps across the board.
European yields in the 10 year benchmarks are mostly going the other way: