USD is mixed / generally lower
As NA traders enter for the day, AUD (and NZD) is the strongest) and JPY is the weakest. The risk on trade is on the move as traders are encouraged by the reopening of the economy and hope for a vaccine by the end of the year. Inventories are soaring after Moderna announced positive Phase I results for its coronavirus vaccine.
The USD is mixed / mostly bearish, the AUDUSD and NZDUSD trading at session highs, with most of the trading directions above Friday’s levels unchanged. The USDCAD is also trending (CAD lower – higher) and near its lowest point of the day. EURUSD, on the other hand, has been in a trading range of 28 pip and is trading almost unchanged. to the day.
In other markets:
- Spot gold trades from $ 11.81 or 0.67% to $ 1,755.60
- WTI crude oil futures for June delivery trade up $ 2.61 or 8.87% from $ 32.04. The July contract is also up sharply with a gain of $ 2.35 or 8% to $ 31.88
In the US equity pre-market, futures imply a smaller opening
- Dow’s industrial average is up 580 points
- The S&P index is up 63 points
- NASDAQ index is up 136 points
In the US debt market, yields are higher with the steepening of the yield curve. The 2-year yield is up 0.6 basis points while the 30-year yield is up 3.2 basis points. The difference from 2 to 10 years does not comply with the amounts, with a gain of 1 basis point to 50.79 basis points, compared to 49.77 basis points on Friday.
On the European debt market, the 10-year reference rates are all trading lower, with investors engaging in Italian debt (-7.4 basis points).