The USD is a little higher but mixed

The GBP is the strongest and the NZD is the weakest the morning after the big 4 earnings after the close. Amazon, Alphabet, Apple and Facebook all posted better-than-expected earnings. Apple, Amazon and Facebook are up 67% premarket trading. Alphabet is trading down marginally. For the time being all boats are being lifted, but the Dow and S&P do like the sharp gains in the NASDAQ. GDP data out of of Europe was weak. Canada GDP will be released this morning. The coronavirus stimulus talks are heading back to the negotiation table. The US dollar is marginally higher with the GBPUSD trading near its session highs and highest level since March 9. The EURUSD moved to its highest level since May 2018 but has backed off and trades marginally higher. The USDCHF which has been mirroring the EURUSD had a similar down and up move vs the greenback today.

The ranges and changes show the EURUSD, USDCHF, USDCAD area all within 10 pips of unchanged. The GBPUSD is near highs for the day (lower USD). The USDJPY is also near the high (higher USD). That combination has the GBPJPY running higher. It is trading up 72 pips and trading near session highs. EURGBP is near session lows.  The point is, the GBP continues to squeeze higher. 

The ranges and changes for the major currency pairs

In other markets, the gold and silver complex are moving back to the upside. WTI crude oil futures are also trading higher in early New York trading:

  • Spot gold is trading up $18.80 or 0.95% $1975.60
  • spot silver is trading up $0.76 or 3.26% at $24.25
  • WTI crude oil futures are trading up $0.34 or 0.85% of $40.26

The major indices are trading higher with the NASDAQ leading the way after the blowout earnings from Amazon, Apple, Alphabet, Facebook. The premarket futures are showing gains:

  • Dow +87 points
  • S&P up 21 points
  • NASDAQ index up 208 points

In the European, the major indices are trading mixed:

  • German DAX, +0.9%
  • France’s CAC, +0.2
  • UK’s FTSE 100, -0.2
  • Spain’s Ibex, -0.36
  • Italy’s FTSE MIB, +1.1%

In the US debt market, yields are lower, with the 2-10 year spread slightly lower as well. 

US yields are lower

In the European debt market, the benchmark 10 year yields are lower across the board.

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