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The USD is higher
As North American traders enter for the day, the AUD is the strongest and the EUR is the weakest. The GBP, which was weaker coming into the current hour, has reversed the declines and is now moving back higher after their interest rate decision and statement which downplayed negative rates again. The USD is stronger with gains vs the EUR, CHF, NZD, JPY CAD and near unchanged vs the GBP and CAD (although the GBPUSD has just moved positive as I type and going against the dollar trend higher).
The ranges and changes are showing the ranges are ok, the prices near the intraday dollar highs (with the exception of the GBPUSD). The EURGBP has moved sharply lower and trades at the lows. The GBPJPY has moved from negative to positive and GBPCHF is also nearer highs after being lower earlier.
In other markets:
- spot gold is reacting to the dollar strength and trading down $-14.70 or -0.8% at $1819.33
- spot silver is down -$0.26 or -0.99% at $26.62.
- WTI crude oil futures are up $0.43 or 0.77% of $56.12. The move to the upside continues for crude
- bitcoin is trading up $267 or 0.74% at $37579
In the premarket for US stocks, the major indices are trading higher with the NASDAQ leading the way. PayPal is one of the big winners today (up 6%) after their earnings yesterday beat expectations:
- Dow industrial average +28 points
- NASDAQ index up +58 points
- S&P index up 6.8 points
in the European debt equity market, major indices are mixed with UK’s FTSE 100 lower and Spain’s Ibex unchanged. The other indices are up modestly.
- German DAX, +0.3%
- France’s CAC, +0.2%
- UK’s FTSE 100, -0.3%
- Spain’s Ibex, unchanged
- Italy’s FTSE MIB, +0.2%
In the US debt market the snapshot of rates currently shows yields are modestly lower in the 2 and 5 year and modestly higher in the tenant 30 year. Overall the trending yields has been to the upside with the 30 year testing the highest level since March 2020.
In the European debt market, yields are mixed. Italian yields continued to move lower is a work through their leadership issues. UK yields are higher after the Bank of England decision.