The USD is mostly lower
As the North American session (and week) gets underway, the JPY is the strongest and the NZD is the weakest. The USD mostly lower but modestly lower. The Democratic National convention will begin today and end on Thursday when Joe Biden will accept the parties nomination. China injected $100B into the economy. Pres. Trump is playing up the China purchases after the weekend meeting with China was indefinitely postponed. HMMMMM. Is all ok with the trade deal?
The ranges and changes are showing modest ranges to start the week. The major indices vs the USD have ranges of 34 pips to 48 pips. All are way below the 22 day averages for those pairs (around a month of data).
In other markets:
- spot gold is trading up $11.19 or 0.58% $1956.33
- spot silver is trading up $0.68 or 2.59% $27.13
- WTI crude oil futures are trading down $0.11 or -0.26% $41.89
In the premarket for US stocks, the major indices are mixed
- Dow, up 1 point
- NASDAQ index up 54 points
- S&P index up 5 points
Iin the European equity markets, the markets are mixed:
- German Dax up 0.2%
- France's CAC, up 0.1%
- UK's FTSE 100, up 0.57%
- Spain's Ibex, down -0.7%
- Italy's FTSE MIB, -0.37%
In the US debt market, yields are down by 1 to 2 basis points. Last week the US treasury auctions were mixed with the 10 year doing fairly well but the 30 year auction was model that great. As a result yields pushed higher:
In the European debt market, the benchmark 10 year yields fell across the curve.
