It's been all about the GBP
The surprise prorogue plan by Boris Johnson, has put most of the trading focus on the GBP, which tumbled lower (but has rebounded off low levels). The GBP is the weakest. The JPY is the strongest.
The GBP pairs are the outliers in today's ranges and changes snapshot chart today. The major currency pairs are all relatively narrow with the EURUSD only in a 18 pip range (but at session lows at least now). The USDJPY and USDCHF have a 24 and 25 pip range and are at the lows.
In other markets:
- Spot gold is up $3.11 or 0.2% at $1545.85
- WTI crude oil is up $0.72 or 1.31% at $55.65. Inventory data late yesterday showed a greater than expected draw.
In the pre-market for US stocks, futures are showing:
- Dow, -119 points
- S&P, -12.5 points
- Nasdaq, -38 points
In the European market:
- German Dax, -1.12%
- France's CAC -1.06%
- UK FTSE, -0.30%
- Spain's Ibex -0.4%
- Italy's FTSE MIB -0.4%
IN the US debt market, yields are lower once again.
In the 10 year benchmark yields in Europe, the yields are also lower with Italy leading the way again (political hopes).
