AUDUSD down for the 4th day
The USD is the strongest and the AUD and NZD are the weakest of the major currencies as the North American session begins. The USD was one of the strongest currencies yesterday (just behind the CAD as the strongest). The Covid landscape in Europe continues to be a worry after a spike in cases after the summer holidays has countries fighting to stop a 2nd shut down before a vaccine. Can the US stop the same spike? There is lots of uncertainty which Chair Powell spoke to yesterday at his testimony. Today he will speak again with Treasury Secretary Mnuchin. The AUDUSD is working on its 4th straight down day.
The ranges and changes are showing the AUDUSD and NZDUSD are trading at the low with decent ranges for those pairs. The USDCAD is moving higher and near its highs (higher USD). the EURUSD, GBPUSD, USDJPY and USDCHF are trading more up and down today but with the USD higher nevertheless.
In other markets:
- Spot gold has continued its moved to the downside. Yesterday at fell around $10. Today it is down another $15 or -0.79% to $1885.26.
- Spot silver is fairing worse. It is down another $1 or -4.06% to $23.40
- WTI crude oil futures are trading down -$0.05 or -0.13% to $39.75
In the premarket for US stocks, the markets are mixed, with the NASDAQ index now trading negative on the day. Yesterday the NASDAQ index led the way with a 1.71% gain
- The Dow Jones up 159 points
- S&P index is up 1.5 points
- NASDAQ index is trading down -2 points
In the European equity markets, the major indices are rebounding higher after the late US stocks surged into the close yesterday.
- German DAX, +1.2%
- France's CAC, +1.4%
- UK's FTSE 100, +2%
- Spain's Ibex, +1.6%
- Italy's FTSE MIB, +1.0%
In the US debt market, yields are marginally higher across the curve:
In the European debt markets, the benchmark 10 year yields are mixed. German and UK yields are unchanged. France yields are marginally lower at -0.1%. Spain Italy and Portugal have larger declines.
