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The USD is mixed in choppy trading conditions
As North American traders enter for the day, the GBP is the strongest and the CHF is the weakest. The GBP is finding buyers on hopes of COVID vaccine/Brexit progress. The GBPUSD trades at the highest level since September 4th. The CHF is continuing it's run to the upside started yesterday. The USDCHF moved above its 200 hour MA yesterday at 0.91137 in the NY trading session and tested that line in the Asian session (low was at 0.91147) before moving to new highs in the European morning session (0.91747 was the high today).
The ranges and changes are mixed with EURUSD, USDJPY, AUDUSD and NZDUSD all within 12 pips of unchanged on the day. The GBP pairs are the biggest movers with all the pairs favoring the GBP but off extreme levels as well. The JPY crosses are all below the unchanged lines with the exception of the GBPJPY. However, the pairs are only marginally changed from the closing levels and well off session lows.
In other markets:
- Spot gold is trading rebounding with the price up $19.78 or 1.05% at $1882.60
- Spot silver is up $0.09 or 0.39% at $24.19
- WTI crude oil futures are up by $0.33 or 0.82% $40.62
In the premarket for US shares, the futures are implying a mixed opening with the Dow stocks higher for the 3rd consecutive day. The S&P and NASDAQ are lower however with the NASDAQ shares particularly on the defensive
- Dow +182 points
- S&P, -7.5 points
- Nasdaq -190 points
In the European markets, the major indices are trading mostly higher after surging yesterday. The Italian FTSE MIB is the only index currently in the red him.
- German Dax, +0.16%.
- France's CAC, +1.1%
- UK FTSE 100, +1.3%
- Spain's Ibex +2.5%
- Italiy's FTSE MIB, -0.12%
In the US debt market, yields are up modestly after surging with a steeper yield curve during yesterday's trade:
In Europe, the benchmark 10 year yields are also marginally higher after surging during yesterday's trading:
