The USD is lower
The AUD and NZD are the strongest as North American traders enter for the day. The JPY and USD are the weakest. In Australia, retail sales and trade were better, followed by better Caixan Services PMI in China. That string of good data extended to the European session with better service PMI data in Europe with the UK being the one exception. That has the flow out of the safety of the JPY and USD (they are the weakest). Stocks are higher in Europe and US.
The ranges and changes are showing the EURUSD, AUDUSD and NZDUSD trading near the highs for the day. The JPY crosses, with the exception of the GBPJPY, are also near session highs and showing good trading ranges as well.
In other markets:
- Spot gold is trading little changed at $1292.21 (-$0.25 or -0.02% on the day).
- WTI crude oil is also little changed at $62.60., up $0.02 or +0.03%
- Bitcoin on Coinbase is up $167 at $4972 and in the process moved back above the $5000 level for the 2nd day in a row, before backing off. The high today reached $5088.88. The price remains above its 200 day MA on Coinbase (7 day week) at $4607.24. The low today reached $4769.39 - above that level. Bullish.
In the pre-market for US, futures are implying a higher opening:
- Dow industrial average, +101 points
- NASDAQ index +46 points
- S&P index +13 points
European shares are also higher after the better service PMI data:
- German DAX, +1.28%
- France's CAC, +0.61%
- UK's FTSE, +0.13%
- Spain's Ibex, +1.17%
- Italy's FTSE MIB, +1.0%
In the US debt market, treasury yields are higher, erasing the declines from yesterday:
European yields are also mostly higher (Italy is down -0.08%). The German 10 year did move back above 0.0% to 0.009% at the high. IT is currently at 0.004%.
