The price action is relatively modest across the major currencies so far
As North American traders enter for the day, the EUR is the strongest, while the JPY is the weakest. The USD is mixed with gains vs the GBP, JPY and NZD and declines vs the EUR, CAD, and AUD. The greenback is near unchanged vs the CHF. The GBP fell on comments (only behind the JPY) on the back of comments from BOE Sauders who said a rate cut was 'quite plausible' .
The ranges and changes charts for the day (see charts below) are showing relatively minor moves. The largest move versus the greenback is in the GBPUSD at 66 pips but that is still well off the 22 day average of around 110 pips. The EURUSD has only mustered 35 pips. The AUDUSD, NZDUSD, and USDCAD are all in the 20's for pip ranges. The USDJPY and JPY crosses are now higher on the day and near session highs after being lower earlier.
In other markets:
- Spot gold is trading down $12 or -0.79% at $1493
- WTI crude oil futures are trading down $0.50 or -0.89% at $55.91
In the premarket for US stocks, the futures are implying a higher opening
- The Dow Jones industrial average is up 100 points
- The S&P index is up 25 pointspoints
- NASDAQ is up 10 points points
In the European market, major indices are lower:
- German DAX, 0.8%
- France's CAC, 0.2%
- UK's FTSE, 1.0%
- Spain's Ibex, 0.6%
- Italy's FTSE MIB, 0.2%
In the US debt market yields are trading higher with gains 2-3 basis points
A snapshot of the European yields show benchmark 10 year yields are mostly higher
