The USD is mixed.
As North American traders enter for the day, the NZD, CAD and AUD are all stronger while the CHF is the weakest. The USD is mixed with gains vs the CHF, GBP, EUR and JPY and declines vs the CAD, AUD and NZD. The flows are modestly into the risk currencies as stocks rebound with one day to go until the US election. Results of which are expected to be delayed due to the the number of mail-in ballots cast. Although there is a risk-on bias, the major currencies are relatively packed together.
The ranges and changes charts below, show big swings in the GBPUSD and the USDCAD. The GBPUSD fell below its 100 day MA for the first time since September 25th but failed and snapped back higher. The UK PMI data was revised higher although data was before the new Covid restrictions. The USDCAD moved higher in the early Asian session, but has given up gains and trades near session lows. Other pairs, like the EURUSD, USDJPY, USDCHF are narrow.
In other markets:
- spot gold is trading up $11.75 or 0.63% $1890.59
- spot silver is up $0.41 or +1.74% at $24.07
- WTI crude oil futures are down $0.54 or -1.45% $35.27
In the premarket for US stocks, the futures are implying higher openings for each of the major indices:
- Dow, +376 points
- NASDAQ, +95 points
- S&P index +40 points
In the European markets, the major indices are also trading higher
- German DAX 1.72%
- France's CAC 1.8%
- UK's FTSE 100 1.11%
- Spain's Ibex 1.36%
- Italy's FTSE MIB 1.8%
In the US debt market, yields are lower with the yield curve flattening:
In the European debt market, yields are mostly marginally higher but UK yields are down 3 basis points in the benchmark 10 year sector:
