The JPY is the weakest
No surprise here. The GBP is the strongest of the major currencies after the resounding victory by the Tories and Boris Johnson in the general elections. The EURUSD and NZD are the only currencies higher but they lag way behind the GBP. The high price in the GBPUSD for 2019 (from March 13) came in at 1.33799. The price is just above that level at 1.3385.
The weakest is the JPY and the USD.
If the charts were not so skewed the ranges for some of the other non-GBP pairs, would not be so bad. The EURUSD and USDJPY have ranges of 70 and 72, but other pairs like the USDCAD, AUDUSD and NZDUSD are subdued with ranges from 32 pips to 42 pips.
In other markets what are they saying after all the news over the last 24 hours?:
- Spot gold is up $1.62 or 0.11% at $1471.42
- WTI crude oil is up $0.54 or 0.91% at $59.72
In the pre-market for US stocks, the S&P and Nasdaq are higher, but trading near session lows. Recall both the NASDAQ and S&P closed at record levels yesterday
- Dow, +82 points
- Nasdaq, +25 points
- S&P, +7 points
In the European debt market, major indices are higher with the FTSE 100 leading the way it up 1.7%
- German DAX, +1%
- France's CAC, +1%
- UK's FTSE 100, +1.7%
- Spain's Ibex, +1.3%
- Italy's FTSE MIB, +0.5%
In the US debt market yields are trading marginally lower
In the European debt market, the benchmark 10 year yields are mostly higher. UK yields are up 2.9 basis points. German yields are up 2.2 basis points. Spain is down -0.7 basis points.
