USD is generally lower
AUD is the strongest and JPY is the weakest as NA traders start the day. AUD was the strongest currency yesterday. It continues its upward trend after the RBA has kept rates unchanged (as expected). The USD is generally weaker (it was the weakest currency yesterday), but has gained against the JPY and is slightly higher than the CHF.
Looking at the ranges and changes, the USDJPY is pushing higher (USD higher) and close to its daily high, but only with a trading range of 35 pip. The AUDUSD and NZDUSD both have larger ranges of 94 and 64 respectively and are trading near their session highs (lower USD). JPY crosses are higher, which often represents a risk for traders. Inventories are higher after dropping earlier in the session to rebound in the European session.
In other markets:
- Spot gold trades around $ 1 -0.6% to $ 1,738.79
- WTI crude oil futures up $ 0.65 or 1.83% to $ 36.10
In the pre-market for American stocks, the futures imply a higher opening:
- Dow is up 138 points
- S&P down 13.3 points
- Nasdaq wins 25 points
On the European equity markets, the main indices are also higher. Germany returns from Witt Day vacation Monday and catches up on gain of 3.71%
- German DAX up 3.71%
- The French ACC rose 1.99%
- UK FTSE, + 1.0%
- Spanish ibex, + 2.4%
- FTSE MIB in Italy, + 2.1%
In the US debt market, yields are higher, with 30 years going up the most and the yield curve steepening. The 30-year yield is up 4.2 basis points. The spread over 2 to 10 years is up by a few basis points to 52.32 basis points compared to 50.27 at the close yesterday.