The USD is stronger to start the quadruple witching day
The USD is the strongest and the NZD is the weakest as the NA session begins. The Feds Bullard is on CNBC and is being more hawkish than the market expected following the FOMC decision this week. His comments have pushed stocks lower as the market prepares for quadruple witching hour today. Yields are higher as well.
The ranges and changes are showing mixed ranges for a Friday. The greenback is getting a boost from the Bullard comments and trades near high levels for the day. The JPY crosses are moving lower as stocks trade negative on tightening concerns.
In other markets:
- Spot gold is trading up $16 or 0.92% $1789.93
- Spot silver is up $0.31 or 1.23% at $26.22
- WTI crude oil is down $0.74 or -1.07% at $70.02
- Bitcoin is trading down $237 or -0.66% at $37,505 the high price reached $38,240. The low extended to $37,050
In the premarket for US stocks, the major indices are moving lower across the board after yesterday's mixed close. Bullard comments are sending stocks lower and trading at the premarket lows. The NASDAQ rose yesterday while the S&P was near unchanged and the Dow fell:
- Dow is down -268 points after yesterday's -210 point decline
- S&P is Dow -28 points after yesterday's -1.84 point decline
- NASDAQ index is down -76 points after yesterday's 121 point gain
In the European equity markets, the major indices are trading lower with declines of up to -1.5% (Spain's Ibex
- German DAX, -1.3%
- France's CAC, -0.84%
- UK's FTSE 100, -1.34 %
- Spain's Ibex, -1.6%
- Italy's FTSE MIB -1.23%
In the US debt market, the yields are moving higher and trading near high levels for the day. Yields have increased since Bullard started to speak on CNBC.
In the European debt market, the benchmark 10 year yields are mixed with Germany, France, UK yields lower while Spain, Italy, Portugal yields rise on risk concerns.
