The USD is mixed
As NA traders enter for the day, the CAD is the strongest of the major currencies while the JPY is the weakest. Stocks are recovering a bit. US yields are near unchanged. The market is taking a break from the US/China anxiety although it remains. Some of the calm may be that the US stock indices closed above their 200 day MA yesterday after dipping below intraday.
The ranges and changes for the major pairs and cross currency pairs are once again modest. The USDCAD is the farthest from the unchanged line at -29 pips. It trades near session lows. Yesterday, the USDCAD moved higher on BOC decision, but it has given up those gains now. Let's face it all pairs are contained.
IN other markets, the snapshot is showing:
- Spot gold is down -$0.66 or -0.05% at $1279.02
- Crude oil futures are unchanged at $58.81
In the pre-market for US stocks, futures are little changed as I type (and giving up some of the modest gains seen earlier).
- S&P is up 1.73 points
- Nasdaq is up 5.89 points
- Dow is down -1.41 points
In European markets,
- German Dax, +0.20%
- France's CAC +0.21%
- UK FTSE, +0.40%
- Spain's Ibex +0.68%
- Italy's FTSE MIB, -0.20%
Yields in the US are trading near unchanged levels (actually down a fraction) after falling sharply of late on global growth concerns:
In Europe, benchmark 10 year yields are trading mixed:
US GDP, trade data, retail and wholesale inventories and weekly claims data will be released at the bottom of the hour. At 10 AM ET, Pending Home sales will be released, and at 11 AM ET, the weekly crude oil data will be released.
