USD is mixed
EUR is strongest and AUD is weakest as NA traders start the day. AUD was the strongest currency in the past two trading days. Today, there is a corrective change in the price action for this currency after a first Asian session which was reversed (AUD pairs are near the lowest). The USD is trading in a mixed way. The greenback fell but reversed during the London session. Inventories are higher as the market prepares for the ADP report, which will be released at 8:15 a.m. with expectations of -9 million jobs (after falling 20.23 million last month).
By looking at the ranges and changes, the ups and downs of the market can be seen. Pairs like AUDUSD were much higher before, but have turned negative and are trading near the lowest. Pairs like EURUSD and GBPUSD were also higher and although they remain higher, they trade near the lows. The NZD and CAD have been strong against the United States in the past few days, but have lost some of their mojo from the previous session (the dollar strengthening in the NY session). The fact is that the USD corrects the lower levels and is losing some of the momentum today.
In other markets:
- Spot gold trades from -2.40 $ or -0.14% to 1725.28 $
- WTI crude oil futures down $ 0.56 or -1.5% to $ 36.26.
In the pre-market for American stocks, futures continue their ascent on the hopes of recovery of coronaviruses:
- Dow is up 168 points
- S&P wins 14 points
- Nasdaq wins 26 points
On the European equity markets, the main indices are also higher. The German DAX continued its upward progression with a gain of 2%:
- German DAX up 2.07%
- The French ACC rose by 1.8%
- UK FTSE, up 1.0%
- The Spanish ibex, up 1.2%
- Italian FTSE MIB up 2.0%
Yields in the US debt market are slightly higher. 30-year bond yields reach up to 1.5 basis points.
In the European debt market, the 10-year benchmark yields are also traded more, with investors avoiding the debt instruments of Spain, Italy and Portugal the most. The 10-year yield for Italy was up 7 basis points, that of Portugal for 4.3 basis points and that of Spain for 3.1 basis points.
ADP report to come.