The USD is marginally higher
As the North American session is getting underway, the JPY is the strongest and the NZD is the weakest. The US dollar is marginally higher thanks mostly to a gains vs the NZD and AUD (risk off). The USD ended Friday as the weakest of the majors on risk off flows. The trend is the other way today as US stocks are set to open lower after the Thursday and Friday's big rally(the Nasdaq rose 2.32% on Friday and 0.72% rise on Thursday). US yields are marginally higher. Bitcoin is down from the end of Friday level of $49170. Elon Musk implied Tesla was selling/going to sell all it's Bitcoin. He later said Tesla hadn't sold any Bitcoin. Good luck with that one.
The ranges and changes are modest to start the new trading week with the major indices all trading with a 45 pip or lower trading range from Friday's closes. Nevertheless, the NZDUSD pairs are trading at lows. The AUD is also lower and near lows vs all pairs with the exception of the NZD.
In other markets:
- Spot gold is trading up $5.80 or 0.31% at $1849.27
- Spot silver is trading up 19 the sensor 0.72% at $27.62
- WTI crude oil futures are trading down $0.43 of -0.64% at $64.95
- Bitcoin is higher on the day/lower from Friday's level. The price is currently up $1348 or 3.06% of $45,404
- Ethereum is also higher today by $160 or 4.77% at $3517.50. It did traders lows at $3123.94 today
in the US stock market, the futures implying a lower opening:
- Dow -150 points. It gained 360.68 points on Friday
- S&P -18.5 points. It gained 61.35 points on Friday
- NASDAQ -72 points. It gained 304.99 points on Friday
In the European equity markets, the major indices are lower:
- German DAX, -0.27%
- France's CAC, -0.4%
- UK's FTSE 100, -0.6%
- Spain's Ibex, -0.4%
- Italy's FTSE MIB unchanged
In the US debt market, the yields are marginally higher and trading near highs for the day after dipping earlier (the 10 yield move down to 1.603% at the lows).
In the European debt market, yields are higher across the board. German tenure yield is up 1.7 basis points to -0.112% as it gets closer to the 0.0% level.
