The EUR is lower. The USD is mixed
As the trading day/week begins in North America, the NZD is the strongest of the major currencies and the GBP is the weakest. The EUR is weaker after disappointing PMI data. The USD is mixed (with a slightly higher bias) with gains vs the EUR, GBP, CAD and CHF and declines vs NZD, AUD and JPY.
The ranges and changes are showing decent ranges vs the 22 day average for the EURUSD and USDCAD, There is less activity in the AUDUSD and NZDUSD with ranges of only 17 and 22 pips to start the week. The EURJPY and GBPJPY were up earlier but have fallen on the back of the general European weakness. The EURGBP is flat as both the EURUSD and GBPUSD fall in unison.
In other markets:
- spot gold is trading near unchanged levels at $1516.80
- WTI crude oil futures are trading down $0.40 or -0.65% at $57.70
In the pre-market for US stocks, the futures are implying a lower opening:
- down industrial average is down -66 points
- S&P index is down -5.7 points
- NASDAQ futures are implying down -12 points
In the European equity markets, the major indices are trading lower:
- German DAX, -1.0%
- Francis CAC, -1.0%
- UK's FTSE, -0.36%
- Spain's Ibex, -1.0%
- Italy's FTSE MIB, -1.1%
In the US debt market yields are lower and the yield curve is marginally flatter.
In the European benchmark 10 year notes are also trading lower after the disappointing data.
