The USD is sitting in the middle of the rankings to start the day

The NZD is the strongest and the EUR is the weakest as the NA traders enter for the day (and the last day of the trading week).  The US stock futures are higher for the 2nd consecutive day (after 3 days down).  If the prices close higher that would be the same pattern from last week (3 days down/2 days up – just saying).   The US rates are marginally higher. The USD is little changed with gains of 0.19% vs the EUR and -0.21 decline vs the NZD. The CAD is also down -0.17% while the GBPUSD, USDJPY USDCHF and AUDUSD are all near unchanged from the close yesterday.  Canada retail sales at the bottom of the hour.  Markit Manufacturing, Services PMI (P) for May, Consumer confidence and existing home sales will all be released as well later this morning.  Baker Hughes rig count will be released at 1 PM.  IN the options market 1.3B will be rolling off at 1.22B at 10 PM (be aware).  The price is at 1.2185 currently.  

Looking at the ranges and changes, the GBP pairs have decent ranges but moved up and down in trading today as the market digested retail sales and PMI data. The retail sales came in stronger-than-expected at 9.2% versus 4.5% estimate. PMI data was also better with manufacturing at 66.1 versus 60.7. The service PMI was a little more so than expected at 61.8 versus 62.2, but higher than 61.0 last month. The price of the GBPUSD moved sharply higher to a high of 1.4233, but found sellers against the 2021 high price at 1.4240.

The ranges and changes for the major currency pairs

In other markets, as North American traders enter for the day

  • Spot gold is up $3.17 or 0.17% $1880.40. 
  • Spot silver is up 3.4 cents or 0.12% at $27.78.
  • WTI crude oil futures are rebounding after three days of declines and is currently trading up $1.16 or 1.87% at $63.10
  • The price of bitcoin is also rebounding and back above the $40,000 level. The digital currency is up $1200 or 2.98% at for the $1265. Ethereum, however, is lower by $-41 or -1.49% at $2722.21.  The price of bitcoin bottom that this week at $30,000.

In the premarket for US stocks, the major indices are trading higher for the second its consecutive day, but are still lower on the week:

  • Dow +154 point. Yesterday the Dow rose 188.11 points
  • NASDAQ +51 points.  Yesterday the NASDAQ index rose 236 points
  • S&P index +17 points.  Yesterday the S&P index rose 43.44 point

In the European equity markets, the major indices are mostly higher:

  • German DAX, +0.4%
  • France's CAC, +0.6%
  • UK's FTSE 100, -0.1%
  • Spain's Ibex, +0.6%
  • Italy's FTSE MIB, +0.8%

in the US debt market, the yields are near unchanged with modest moves up or down.

US yields are mixed
In the European debt market the benchmark 10 year yields are trading lower:

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