The USD is mixed
As the North American traders enter for the day, the NZD is the strongest, while the AUD is the weakest (the AUDNZD is on the move lower and trades at the lowest level since April). The USD is trading mixed with games against the EUR, CAD and AUD, the coins versus the JPY, CHF and NZD. The dollar is near unchanged against the GBP.
Looking at the volatility, the ranges for the major pairs and crosses are mostly trading below the 22 day averages (AUDNZD is above the normal range as it trends more to the downside). The USDJPY, USDCHF, USDCAD and NZDUSD are all trading with a range less than 37 pips. So not much volatility. The dollar is trading at day’s highs versus the EUR and CAD at the start of the NY session.
In other markets:
- spot gold is trading up $1.80 or 0.15% at $1225.93
- WTI crude oil futures are trading down $.22 or -0.38% at $56.98
- Bitcoin on Coinbase is trading down $400 and $4382. The low-price extended to $4218.27.
In the US stock market, futures are implying a lower opening once again (and accelerating a bit over the last few minutes). FAANG stocks are looking to all be in bear market territory now (-20%):
- The S&P futures are implying a -26.48 point decline
- the NASDAQ futures are implying a -90.92 point decline
- the Dow futures are implying a -260 point decline
European shares are lower:
- German DAX, -1.2%
- UK FTSE, -0.44%
- France’s CAC, -1.1%
- Spain’s Ibex, -1.3%
- Italy’s FTSE MIB, -0.9%
Asian shares close lower as well:
- Nikkei, -1.09%
- Shanghai composite, -2.13%
- Hang Seng, -2.02%
In the US that market, yields are lower as stocks continue their slide and the market prices out some of the 2019 price hikes on the expected global slowdown.