Stocks pressured again on China
As worries increase again for more tariffs and stocks slide in early trading, the ranking of the strongest to weakest at the start of the North American session is showing theAUD is the strongest of the major currencies, while the GBP and CHF is the weakest. The AUD took the top honors after the RBA kept rates unchanged. There was a shot of a cut in rates at their meeting today. The GBP is weakest on calls for PM May to step down and Brexit worries.
The changes and ranges snapshot is showing the USD pairs mostly trading at extremes. The USD is stronger vs EUR, GBP, CHF, CAD and NZD (and trading at the session highs). The USD is weaker vs the JPY (and at an extreme too). The dollars strength vs the AUD is off its highs. JPY crosses are also trading at the lows for the day as North American traders enter (see top chart below).
A snapshot of other markets is showing:
- Spot gold is down $-1.30 or -0.10% at $1279.77
- WTI crude oil is lower by $.64 or -1.03% at $61.61
IN the US stock market, the futures are implying a lower opening:
- Dow, --177 points
- S&P, -21.67 points
- Nasdaq, -72.34 points
In European markets the snapshot shows:
- German DAX, -0.73%
- France's CAC, -0.3%
- UK's FTSE, -1.08%
- Spain's Ibex, -0.57%
- Italy's FTSE MIB, -0.09%
In the US debt market, yields are little changed
In Europe, 10 year benchmark yields are mostly lower
