The USD is mixed

The NZD is the strongest and the CHF is the weakest as the trading week gets underway. The USD is sitting in the middle of the strongest to weakest range with mixed results. The greenback is stronger vs the JPY, CHF and CAD and stronger vs the NZD, AUD, EUR and GBP.  The stock indices in Europe and the pre-market in the US are lower with the S&P on the longest losing streak since November. US yields are higher by a few basis points and stirring inflation fears.  The 10 year yield moved to another cycle high.  Boeing is under pressure again as they grounded some 777s after the Pratt and Whitney engine fire in Colorado over the weekend.  Gold is rebounding higher as is oil after the thaw fall on Friday.  

Looking at the ranges and changes charts below,  the major pairs vs the US have seen higher and lower price action with the prices trading in the middle of the ranges for the day. 

The ranges and changes for the major currency pairs
In other markets:

  • Bitcoin is trading sharply lower today after trading to an all time high over the weekend to $58367.00 on Sunday. The current price price is trading down $3691 to -$53,652. The low price reached $52,610 today. The digital currency's 200 hour moving average is down at $52,223.95. It is currently below its 100 hour moving average of $54,983
  • Spot gold is trading down up $13.90 or 0.78% $1798.15
  • Spot silver is trading up $0.16 or 0.62% at $27.45
  • WTI crude oil futures are up $0.64 or 1.08% at $59.90

In the premarket for US stocks, the futures are implying sharp declines with the Dow industrial average down over 200 points and the NASDAQ index also down around 200 points

  • S&P index futures are implying a -32 points decline
  • Dow industrial average are set to open -202 points
  • NASDAQ index -191 points

In the European equity markets the major indices are trading lower across the board

  • German DAX, -0.7%
  • France's CAC, -0.5%
  • UK's FTSE 100, -0.7%
  • Spain's Ibex, -1.0%
  • Italy's FTSE MIB, -0.9%

In the US debt market, yields are higher with a  steeper yield curve. The 10 and 30 year yield moved to a new cycle highs at 1.393% and 2.186% respectively. The 2-10 year spread also widened to 125.31 basis points vs. 123.16 basis points on Friday

US yields are higher
In the European debt market, the benchmark 10 year yields are mixed with German and French yields are down marginally. The UK and Italian yields are leading the way to the upside.

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