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The USD is the strongest. The NZD is the weakest as NA traders enter.


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The GBP is mixed to higher as Boris Johnson become PM

The USD is the strongest as Congress and the WH strike a 2 year debt ceiling deal, and the NZD is the weakest NA traders enter for the day. The GBP is mixed to higher as Boris Johnson becomes the next Brittish PM, but it is off its earlier sessoin lows.  

Looking at the ranges and changes, the GBP is leading in volatility with the pair retracing earlier declines earlier declines. The EURUSD, off a 20 pip trading range yesterday, is enjoying a 34 pip range today. At least it has made a break below recent lows and is showing some life (more on that in a video to be released shortly).

In other markets,

  • Spot gold is down -$1.02 or -0.08% at $1423.80
  • WTI crude oil is down -$0.20 or -0.30% at $56.02

In the premarket for US stocks, the major indices are higher:

  • Dow is up 125 points
  • Nasdaq is up 38 points
  • S&P is up 12.7 poiints

In European markets, the major indices are also nicely higher:

  • German Dax +1.7%
  • France’s CAC, +1%
  • UK FTSE +1.0%
  • Spain’s Ibex +1.4%
  • Italy’s FTSE MIB 0.85%

In the US debt market, the US yields are mixed with the shorter end higher and the longer end lower (flatter curve), but the changes are marginal.

In the benchmark 10 year notes in Europe, the yields are mixed with gains inSpain and Portugal, and declines in German, France, UK and Italy.

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