As one might expect, the US and Canada holiday is helping to get the week off to a slow start (US and Canada stock exchanges and bond markets are closed). At the start of the North American session, the AUD is the strongest and the EUR is the weakest, but most of the currencies (from the the CHF to the GBP in the chart above) are scrunched together.
Looking at the trading ranges, the AUD low to high trading range is 61% of what is normal over the last month of trading, and the USDCHF is 50% of the norm.
The GBPUSD is only 37% of what is a normal trading range, and the EURUSD and USDJPY are only 39%.
The market is taking a breather as traders ponder the confusion in the markets:
A look around the markets are showing:
- Spot gold is trading up $1.50 or 0.08% at $1843.10
- Spot silver is up $0.05 or 0.23% at $21.73
- Crude oil is up $0.60 at $77.16
- Bitcoin is trading at $24838. That is up from the Friday close at $24580. The high over the weekend reached $25183
In the European stock market, the major indices are mixed:
- German DAX unchanged
- France's CAC -0.14%
- UK's FTSE 100 +0.02%
- Spain's Ibex -0.37%
- Italy's FTSE MIB -0.3%
In the European debt market, the benchmark 10 year yields are lower by 1-3 basis points.
