The USD is weaker on risk off flows
As the North American traders enter for the day (and US traders return from the 4th of July holiday), the EUR is the strongest, while the JPY is the weakest. ADP will be released shortly. The US will release their employment report tomorrow. The USD is weaker as risk off is a theme today (stocks and yields are higher as a result).
The ranges for the day are light today. The USDCAD has only a 27 pip range and the USDCHF is only 42 pips. The EURUSD is leading the way for the majors vs. the USD, with a 61 pip range today. The major JPY crosses (EURJPY, GBPJPY) are on the move with the gains in stocks and yields today.
IN other markets:
- Spot gold is trading down $-.88 or -0.08% at $1253.76
- WTI crude oil futures are up $.12 or less 0.16% at $74.27
US stocks are projected to open higher. Futures imply:
- Dow up +193 points
- NASDAQ up +53 points
- S&P up +19 points
In Europe:
- German DAX up 1.53%
- France's CAC of 1.23%
- UK FTSE up 0.6%
US yields are higher:
- 2 year up 2.0 basis points
- 5-year up 2.7 basis points
- 10 year 2.7 basis points
- 30 year of 2.6 basis points
The European 10 year yields are higher today:
- Germany 0.32%, +1.7 basis points
- UK 1.29%, +1.3 basis points
- France 0.66%, +1.5 basis points
- Italy 2.68%, +2.6 basis
There will be no World Cup games today. The quarterfinals will start tomorrow with Uraguay playing France and Brazil playing Belgium.
