The USD is perfectly mixed
As traders jockey for position before the US employment report, the CAD is the strongest, while the NZD is the weakest. The USD? It is near perfectly mixed being higher against the JPY, CHF , AUD and NZD but lower vs. the EUR, GBP, and CAD. Let's face it, this is just a snapshot. Much will rely on the employment report. Adam has a great review HERE. If you want to read a bunch of previews, CLICK HERE. We will see how the dust settles after the report.
The volatility is pretty low. Looking at the lower chart below, the ranges area well below the red 22 day average trading range line. All the major currencies and crosses are below the line. So there is some pent up energy. Will it be released after the report? Get that surprise Adam is talking about in his report.
In other markets, the pre-employment snapshot shows:
- Spot gold down -$1.40 to 1320
- WTI crude oil is little changed at $47.16
- US stock futures are higher: S&P futures are up 5.75 points. The Dow futures are up 62 points and the Nasdaq futures are up 16.25 points
- US yields are up but by less than 1 bp across the board. 2 year 1.3279%. 5 year 1.707%. 10 year 2.1256% and 30 year 2.7338%
- European stocks are higher. Dax +0.85%. Cac +1%. UK FTSE +0.25%.
- European 10 year yields are higher. Germany up 2.4 bp. France up 2.7 bp. UK up 1.9 bp. Spain up 3.2 bp. Italy up 3 bp
