US dollar up mostly as await ADP private payroll numbers
As the North American traders enter for the trading day, the EUR is the strongest currency, rising the most against the NZD, JPY and CHF, while the NZD - on the back of a tumble lower after weaker employment data - is the weakest of the major currencies.
The USD is mostly higher as the ADP data is awaited with expectations of 190K vs 158K last month.
The ranges and changes shows some good activity and volatility (there are a few pairs above their 22 day trading ranges already). The EURUSD has a decent 74 pip range for the day, but is off the highers. The GBPNZD is running higher today, up 128 pips and having a 176 pip trading range.
In other markets:
- Spot god is down -$1.80 to $1267
- WTI crude oil is little changed at $49.10
- US yields are higher. 2 year up 0.6 bp to 1.347%. 5 year up 1.3 bp to 1.812%. 10 year up 1.4 bp to 2.267% and 30 year up 1.7 bp to 2.873.
- European 10 year yields are unchanged to higher. Germany, unchanged, France unchanged, UK up 2 bp.
- US stock futures are up with the Nasdaq leading the way (Apple is up after strong earnings = up $9.50) up 43 points. The S&P future are up 1.40 point. The Dow futures are up 40.00 points.
- European stocks are in the red: German Dax -0.2%. France Cac -0.1%. UK FTSE -0.4%. Italy FTSE MIB -0.2%. Spain Ibex -0.5%
Later today, the oil inventory data will be released. There have been large draw downs over the last few weeks. The private report last night showed a surprise build of 1779K for crude oil. The expectations (as per the surveys) shows expectations of -3100K vs -7208K draw last week.
- Gasoline inventories are estimated to have a -1000K draw
- US distillates are expected to show a -900K draw
For other private sector data from last nights survey CLICK HERE.
Feds Mester speaks at a Community Banking Conferences at 11 AM ET/1500 GMT.
Fed's Williams speaks in Las Vegas on Monetary Policy at 3:30 PM ET/1930 GMT.
