The USD is the strongest and the AUD is the weakest as the North American session begins

The USD is leading the table as the strongest of the major currencies, while the AUD is the weakest. The AUD is the strongest despite stronger jobs data out of Australia last night (+32.2K jobs and 3.4% unemployment rate). The unemployment rate was the lowest in over 50 years. However, dollar buying dominated in the European session today and sent the AUDUSD sharply lower (-1.45% to start the session).

In the US today, the weekly jobless claims, housing starts, and Philly Fed business survey will be released. Yesterday, retail sales came in stronger than expected and that will keep the Fed on a tightening bias going into 2023 and perhaps extending further into the year if demand does not slow. That does not prevent the Fed to lower the trajectory to 50 basis points at the next meeting.

Budget news from the UK failed to impress. The GBP is lower.

Feds Bowman, Jefferson and Mester are all expected to weigh in with their opinions today.

Stocks in the US are set to open lower, piggybacking on the declines from yesterday. Crude oil is lower. Russian and Ukrained agreed to continue their deal that ensures exports of foodstuffs from Ukraine ports. The price of wheat fell to the lowest level in two months.

A look around the markets is showing:

• Spot gold is trading down $14 or -0.79% at $1759.80.
• Spot silver is trading down $0.55 or -2.57% and $29.89.
• crude oil is trading at $84.07. The price is settled at $86.92 yesterday. China is an overabundance of crude oil inventory and with Covid concerns, the demand is lower
• Bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term is trading at $16,501. That is not far from the 5 PM level $16518 yesterday

in the premarket for US stocks, the major indices are trading lower:

• Dow industrial average 308 points after yesterdays -39.09 point fall
• S&P index is down 44 points after yesterdays -32.96 fall
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is trading down -135 points after yesterdays -174.75 point tumble

in the European equity markets, the major indices are also trading lower:

• German DAX, -0.35%
• France's CAC -0.95%
• UK's FTSE 100 -0.7%
• Spain's Ibex -1.09%
• Italy's FTSE MIB -1.0%

in the US debt market, yields are higher:

• 2 year yield 4.43%, +6.1 basis points
• 5 year 3.921%, +7.1 basis points
• 10 year 3.767% +7.4 basis points
• 30 year 3.905% +4.7 basis points

The benchmark 10 year yields in Europe are also higher