The USD is lower in news filled day
The "risk on" trade is dominating after China's Xi calmed fears of a trade war. That has sent the NZD and AUD higher (they are the strongest) and sent the JPY and the USD lower (less flight into the safety of those currencies).
The EUR is on the move now too after the Nowotny comment that the ECB will stop asset buying this year.
The changes and ranges are showing the USD is trading near extreme levels at the start of the NA trading day. The exception is the USDJPY which is off it''s highs but still higher by 29 pips. The ranges are decent too. The JPY crosses are seeing trending interest on the run out of the JPY.
A snapshot of the other markets as NA traders enter is showing:
- Spot gold near unchanged levels at $1336.65
- WTI crude oil is up another $1.35 or 2.13% at $64.79. It rose over 2% yesterday on Syria tension
- Bitcoin is strangely quiet. The range for the day is only $137 ($6661 to $6798). It is higher by $66 at $6732. The digital currency remains below its 100 and 200 hour MAs at $6851 and $6932 respectively
US stocks in pre-market trading are expected to open with solid gains:
- S&P is implying a 34 point gain
- Nasdaq is implying a 106 point gain
- Dow is implying a 345 point gain
US yields are higher by 1-2 bps
- 2 year 2.295%, +1.6 basis points
- 5 year 2.618%, +2.0 basis points
- 10 year 2.797%, +1.8 basis points
- 30 year 3.02%, +1.0 basis points
