GBP trades near session lows.
The dollar is the strongest and the GBP is the weakest as the NA traders enter for the day/week. The GBP is being hurt on the back of no-Brexit expectations as the clock ticks. The USD strength continues after the employment report on Friday continued to show strong employment growth/with moderate wage growth that will keep the Fed on the path of gradual rate rises toward neutrality.
The GBP and USD pairs are trading near respective high and low levels. The GBPUSD is trading down about -74 pips and is leading the charge with regard to the trading range of the major pairs. The range is close to 100 pips (98 pips actually). The other pairs vs the USD are have very modest trading ranges.
In other markets:
- WTI crude oil just traded to new session highs of $69.58, but has already backed off ot $69.32, up $0.84 or 1.20%. The Iranian sanctions are going into effect today.
- SPot gold is down -$5.77 on the dollar strength as the price moves close to $1200. It currently trades at $1207.91, near the lows for the day at $1207.56
Stock futures are implying a mixed opening:
- Dow futures are implying a -12.5 point decline
- S&P futures are implying a unchanged opening
- Nasdaq futures are up about 2.75 points
US yield are a little higher in early US trading.
European shares are mostly lower:
- German Dax down -0.2%
- France's CAC is down -0.15%
- UKs FTSE is down -0.25%
- Spain's Ibex is down -0.3%
- Italy's FTSE MIB is down -0.2%
10 year yields are lower in Europe:
There are no economic releases in the US or Canada today.
Most Canadian banks will be closed in observance of Civic Day today.