The USD is marginally higher (but mixed) after two days of declines

As North American traders enter for the day, the GBP is the strongest of the majors, while the NZD is the weakest.  The USD is trading mixed/marginally higher with gains vs. the NZD, JPY, AUD and modest declines vs. the GBP and CHF. The EURUSD  and USDCAD are near unchanged in the morning snapshot.  US CPI data will be released at 8:30 AM ET/1330 GMT.  Fed’s Powell is scheduled to scheduled to speak at 2 PM ET.

The ranges and changes show modest ranges of the most part relative to the 22 day averages. The EURUSD moved higher initially in the day and came back down toward unchanged levels. The USDCAD did the opposite (moved lower and then rose).  The USDJPY fell in to the London morning session, but bounced off its 100 day moving average near 104.391. It is trading near its highs. 

The ranges and changes for the major currency pairs

In other markets:

  • Bitcoin is trading lower after pushing back toward the highs in trading yesterday. The price is down around $-1311 or -2.8% at $46,000. The high price today reached $47,350. The low price extended to $44,600
  • Spot gold is trading up $4.23 or 0.23% to $1842.60
  • Spot silver is trading down one penny or -0.03% at $27.25
  • WTI crude oil futures are trading up $0.36 or 0.62% $58.72

In the premarket for US stocks, the futures are implying that the major indices are rebounding after the S&P and Dow both snapped winning streaks yesterday with modest declines

  • S&P index +13 points. Yesterday the index dipped by -4.36 points snapping a 6 day win streak.
  • Dow industrial average +87 points. Yesterday the 6 day win streak was snapped with a modest -9.93 point decline
  • NASDAQ index +42 points. Yesterday the index rose 20.057 points to another all-time record high

In the European equity markets the major indices are trading mixed to little changed. German Dax and Frances CAC are unchanged, UK’s FTSE 100 is up 0.1%

  • German DAX, unchanged
  • France’s CAC, unchanged
  • UK’s FTSE 100, +0.1%
  • Spain’s Ibex, -0.2%
  • Italy’s FTSE MIB, +0.3

In the US debt market, yields have bounced back higher from the marginal move lower in trading yesterday.   Today the US treasury will auction 10 year notes at 1 PM; tomorrow they will auction 30 year bonds. The 30 year is moving back toward the 2.00% level.  That level was breached earlier in the week, but retreated back lower.  

US yields are higher
In the European debt market, the benchmark 10 year yields are also higher with the exception being Italy which is down -0.2 bps.  

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