The snapshot at the start of the NY session
The JPY is the strongest while the GBP is the weakest as global markets tumble after Trumps comments on Sunday.
The flight to safety bid is flowing into the JPY and the USD. They are the strongest. The weakest are the GBP and the NZD.
Below is the snapshot of the % changes and the ranking of the strongest and weakest.
The ranges and changes are showing the GBPUSD is trading at the session low while the EURUSD is at the highs as is the USDJPY (although still lower). THe AUDUSD and NZDUSD gapped lower and remain lower but near the middle of their day’s low to high trading ranges. The pip ranges are near/above the 22 day averages as you might expect given the news.
A snapshot of other markets is showing:
- Spot gold is up $1.45at $1280.70 THe high reached $1285.93 The low extended to $1279.19
- WTI crude oil is down -$0.52 or -0.82% at $61.43. It suffers on global growth concerns
IN the US stock market, the futures are implying a sharply lower opening but off lowest levels:
- Dow, -450 points
- S&P, -45 points
- Nasdaq, -142 points
In European markets the snapshot shows:
- German DAX, -1.77%
- France’s CAC, -1.83%
- Spain’s Ibex, -1.27%
- Italy’s FTSE MIB, -1.93%
The UK markets are closed for May Day bank holiday.
In the US debt market, yields are lower on flight to safety and growth concerns flows:
In Europe, 10 year benchmark yields are mixed:
- Germany 0.014%, -1.2 basis points
- France 0.368%, -0.5 basis points
- Spain 0.91%, -0.3 basis points
- Italy 2.596%, +3.5 basis points
- Portugal, 1.122%, unchanged