Concerns about trade continue.
The USD is the strongest. Emerging currencies continue to be pressured with the Turkish Lira and the Argentina Peso also weakening. The weakness is working into the dollar. IN the UK Brexit concerns heated up over the long weekend and has pressured the GBP. BOE will be testifying in front of the Parliament's Treasury Committee. Also impacting the markets are trade concerns. US and Canada will restart talks tomorrow. Additional China tariffs are also potentially on the horizon.
Ranges and changes are pretty robust as the traders in the US and Canada return from their Labor Day holidays. The dollar is making new highs vs. the CAD and near the highs vs the EUR as well. The USDJPY is still higher but it trades near mid-range for the day.
In other markets:
- Gold is lower on the dollar gains. It is down -$7.52 or -0.63% and back below the $1200 at $1193.96
- WTI crude oil is up $1.33 or 1.92% at $71.14
- Bitcoin is up about $60 at $7350.21 and moving away from the 100 day MA at $6893.76. The 200 day MA is at $7822.09
US stocks in pre-market trading are lower.
- Dow is down -73 points
- S&P is down -5 points
- Nasdaq is down -20 points
US yields are marginally higher:
- 2 year 2.628%, up 0.2 bps
- 5 year 2.741%, up 0.3 bps
- 10 year 2.867%, up 0.7 bps
- 30 year 3.034%, up 1.6 bps
