Its a mixed up picture in the currencies
European shares have bounced and US shares are pointing toward cautious gains, yet the CHF remains the strongest currency. Normally the CHF is a safe haven in times of trouble. The JPY is also stronger today. Traders tend to buy JPY in rough times too. Do the currency traders know something? The USD is the weakest followed by the CAD and NZD (thought to be risk off trades). We will see what the volatility in year end stock trading brings us today.
Ranges are mixed with the USDJPY and USDCHF leading the way (and above their 22 day average trading ranges). THe USDCAD, AUDUSD and NZDUSD are all trading with narrow ranges but the AUDUSD and NZDUSD are trading at higher extremes in the North American morning snapshot.
A snapshot of other markets is showing:
- Spot gold up $1.40 or +0.11% at $1277.34
- WTI crude oil futures are up $0.32 or 0.69% at $44.91
US stock futures are pointing to modest gains
- Dow, up 144 points
- S&P up 16 points
- Nasdaq, up 31 points
In European markets shares have a catch up rally after yesterday's US afternoon recovery surge higher:
- German Dax, +1.8%
- France's CAC, +1.7%
- Spain's Ibex, +1.4%
- UK's FTSE, +2.0%
- Italy's FTSE MIB +1.4%
IN the US debt market, yield are lower with 30 year down the most:
The benchmark 10 year notes in Europe are trading mixed:
