The EUR and USD are pretty much deadlocked as the strongest and the AUD is the weakest as the North American session begins. The USD is higher after Fed's Bostick and Daly kept the narrative going on the tighten to 5% to 5.25% and then take a look, let data decide, and finally it is not about CPI but service CPI ex housing that is the inflation guide du jour. The US CPI will be released on Thursday with the expectations for the headline to be 0.0%. The ex food and energy is expected at 0.3%. For the service CPI ex housing, I don't know but it will probably be reported in the headlines on Friday.
Prior to those fireworks, today the Fed Chair will participate on a panel titled "Central Bank Independence and the Mandate-Evolving Views". Whether he addresses monetary policy or go into detail on the economy is unknown, but markets will be en garde. Other than that, wholesale inventories and the 3 year note auction will kick off the auction note/bond calendar for the Treasury this week which will include 10 and 30 year issuance
The US stocks are lower after a mixed day yesterday. Oil is marginally higher.
A look at other markets are showing:
- spot gold is trading near unchanged at $1871.81
- spot silver is trading down $0.20 or -0.84% $23.44
- WTI crude oil is trading up up nine cents
- Bitcoin is trading study at a higher level above 17,000. The current prices at $17,233
In the premarket for US stocks, the futures are a lower opening after yesterday's mixed results.
- Dow Industrial Average is down -151 points after yesterday's -112.96 point decline
- S&P index is trading down -17.5 points after yesterday's -2.97 point decline
- NASDAQ index is down -67 points after yesterday's 66.36 point rise
In the European equity markets, the major indices are also trading lower
- German DAX -0.3%
- Francis CAC -0.69%
- UK's FTSE 100 -0.23%
- Spain's Ibex -0.04%
- Italy's FTSE MIB -0.17%
Asian-Pacific markets,
- Japan's Nikkei 0.78%
- Hang Seng composite index -0.27%
- New Zealand 50 +0.16%
- Australia's S&P/ASX -0.28%
- Shanghai composite -0.21%
The US debt market, yields are higher.
In the European debt market, the benchmark 10 year yields are also trading higher:
