The USD is modestly rebounding after moving to the lowest level since 2018
The CHF is the strongest and the GBP is the weakest as North American traders enter for the day. The dual negotiations continue with the US lawmakers likely to move into the weekend and the same being true for Brexit negotiations (at the least). German Ifo data, UK retail sales were better than expected. In the NA session, the Canada retail sales, US current account and US leading index are on the economic calendar this morning.
The ranges and changes are showing up and down (down and up) ranges in the major pairs (most are off their highs). Glancing at some charts, the USDJPY and USDCHF moved to test their 100 hour MAs and backed off against resistance and retraced the gains. The USDCAD trades mostly between it's 100 and 200 hour MAs. The NZDUSD was another pair that went down and tested its 100 hour MA, and bounced back higher.
In other markets:
- Spot gold is trading near unchanged at $1885
- Spot silver is down $0.16 or -0.64% at $25.89
- WTI crude oil futures are down $0.06 or -0.06% of $48.33
- Bitcoin on Coinbase is trading up $123.31 to $22,900. The high price reached $23,280. The low price extended to $22,480 after the sharp run higher yesterday.
IN the premarket for US stocks, the futures are implying a modest changes in the major indices after record closes for the S&P and NASDAQ index yesterday
- Dow, is down -4 points him him him
- NASDAQ index +62 points
- S&P index, down -4 point
In the European equity markets, the major indices are mixed. The German DAX continues to move higher and looks toward testing the February 2020 high price for the year at 13795.84. The high price for the DAX reach 13774.45 today before rotating back to the downside (currently at 13689).
- German DAX, +0.17%
- France's CAC, -0.1%
- UK's FTSE 100, +0.1%
- Spain's Ibex, -0.7%
- Italy's FTSE MIB, +0.2%
In the US debt market, yields are trading near unchanged levels:
In the European debt market, the benchmark 10 year yields are mostly higher with the exception being the UK 10 year yield (-3.9 basis points).
