The USD is lower vs commodity currencies

As the North American session begins and the final day of the week commences, the NZD is the strongest and the JPY is the weakest   The commodity currencies are mostly higher with hopes of Covid vaccinations beginning soon.   The US stocks premarket are mixed.  The USD is mixed with declines vs the AUD, NZD and CAD, and little changed vs the EUR, GBP, JPY and CHF to start the session. The UK retail sales look pretty good (beat expectations), but the GBPUSD chopped up and down.  Oh no, the US government and the Fed are fighting over stimulus funds (or at least not communicating). 

The ranges and changes show modest ranges for the day with the largest range being 49 pip vs the USD. The other crosses are also modest and below their 22 day averages.   The EURSD, GBPUSD, USDJPY, USDCHF and USDCAD are all within 13 pips of unchanged in the morning snapshot. 

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is up $1.30 or 0.07% at $1867.85
  • Spot silver is up $0.14 or 0.58% $24.19
  • WTI crude oil futures are trading up $0.26 or 0.62% at $42 even

In the premarket for US stocks the major indices are mixed but off lower levels from overnight trading:

  • Dow -24 points
  • S&P, unchanged
  • NASDAQ index +20 points

In the European equity markets, the major indices are trading higher close week:

  • German DAX, +0.4%
  • France’s CAC, +0.3%
  • UK’s FTSE 100, +0.4%
  • Spain’s Ibex, +0.5%
  • Italy’s FTSE MIB, +0.7%

In the US debt market, yields are marginally higher:

US yields are higher

In the European debt market, the benchmark 10 year yields are mostly lower but modestly lower:

European yields are lower

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