The USD is mixed
As North American traders enter for the day , the CHF is the strongest, while the GBP is the weakest. Yesterday the GBP was also the weakest as uncertainty of a Brexit deal weighs on the pound pairs. UK PM Johnson is expected to head to Brussels for face-to-face talks, but the timing is still up in the air as the clock ticks down. It was thought that the EU on the deal before end of day Wednesday (before their meeting on Thursday). The US dollar is mixed/little higher. There are marginal changes however vs. all the major currencies with the exception of the GBP and perhaps the NZD (+0.23%). The other pairs are all within 0.12% of unchanged.
The ranges and changes are showing most of the major currencies vs the USD are within shot of unchanged levels on the day. The exception is the GBPUSD which is trading down 72 pips. The next currency pair farthest away from unchanged is a NZDUSD at -16 pips. Pairs like the EURUSD, USDJPY, USDCAD and AUDUSD are all within 9 pips of unchanged in up and down trading. The JPY crosses have the same pattern with relatively minor changes (sans the GBPJPY). Needless to say, the action once again, is in the GBP pairs a Brexit uncertainty, and news drives those pairs.
In other markets:
- spot gold is trading up $2.40 or 0.13% at $1865.14.
- Spot silver is up $0.14 or 0.59% $24.63
- WTI crude oil futures
- Bitcoin on Coinbase is trading down $281 and $18,788
In the US stock market the futures are implying a lower opening. Yesterday the NASDAQ index close at an all-time record high. The Dow industrial average fell for the 1st time in 5 days:
- Dow, -125 points
- S&P index down -17.21 points
- NASDAQ index down 42.72 points
In the European equity markets, the major indices are all trading lower:
- German DAX, -0.3%
- France's CAC, -0.8%
- UK's FTSE 100, -0.45%
- Spain's Ibex, -0.7%
- Italy's FTSE MIB, -0.7%
in the US debt market, US yields are modestly higher after declines yesterday saw the 10 and 30 year move down about 4 basis points. Today the US treasury will auction off 3 year notes at the traditional 1 PM ET time. Tomorrow they will auction off 10 year notes and on Thursday they will auction 30 year bonds:
In the European debt market, the benchmark 10 year yields are mixed. Germany, France, UK, and Portugal yields are lower while Italy and Spain are unchanged are higher.
