The USD is in the middle with mixed results

As North American traders enter for the day, the AUD is a strongest, while the CHF is the weakest.   The USD sits near the middle, with a slight negative bias but also mixed vs. the major currencies.   The biggest declines for the USD is vs the commodity currencies led by the AUD and the NZD. The greenback is the strongest was the CHF and JPY but gains are modest. Today, the focus shifts from Pres. Trump to Pres.-elect Bidens stimulus plan (talks now are $1.3 to $2T – see Adam's post here).   Feds Powell will also be speaking at 12:30 PM ET/1730 GMT). 

Looking at the ranges and changes, the ranges for most of the pairs are relatively stable with all expect the GBPUSD having a low to high trading range of 36 to 43 pips. The GBPUSD pair has a range of 63 pips.   The JPY pairs – usually an indication of risk on – are all higher  and nearer the highs generally.  

The ranges and changes for the major currency pairs

IN other markets:

  • Spot gold is trading down $-4.60 or -0.25% $1841.05
  • Spot silver is trading up $0.06 or 0.23% a $25.28
  • WTI crude oil futures are trading down $0.35 or -0.64% of $52.58
  • Bitcoin on Coinbase is trading up $1070 and $38,366. The high price reached $38,800. The low price extended to $36,751.11

In the premarket for US stocks, the futures are implying they modestly higher opening

  • S&P index up 6.5 points
  • Dow industrial average up 95 points
  • NASDAQ index up 1 point

In the European equity markets, the major indices are trading mixed with modest gains or losses:

  • German DAX +0.2%
  • France's CAC, +0.05%
  • UK's FTSE 100, +0.5%
  • Spain's Ibex, -0.1%
  • Italy's FTSE MIB, -0.1%

In the US debt market, the yields are rebounding after yesterdays decline. The treasuries successfully auctioned off 10 and 30 year issues on Tuesday and Wednesday, but yields are higher after the run up last week.

US yields are higher
In the European debt market, the benchmark benchmark 10 year yields are trading mixed. Italian yields are higher after the government resignations yesterday which threatened the coalition.

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