The USD is trading mostly lower to start the North American session
The GBP is the strongest after the Supreme Court ruling, and the JPY is the weakest as there is more risk on flows that tends to weaken the JPY. The USD is mostly weaker in early North American trading with declines vs. all the majors with the exception of the JPY.
The relative movements in most of the currency pairs is limited with all the pairs ranges being less than their 22 day average ranges (about a month of trading - red line in the lower chart below). The GBPUSD range of 75 pips is high relative to the other major currency pairs vs the USD, but still well below its average (red line at around 110 pips). The EURUSD is hardly moved with only a 17 pip trading range. the USDCAD has only a 18 pip range That's not a lot of trading activity. There is room to roam should the market get a sho ration subsequent to the bidding accepted all 62 benefits ve.
In other markets, the snapshot is showing:
- Spot gold is down one dollar or -0.06% at $1521.24
- WTI crude oil futures are down $0.57 or -0.97% at $58.07
In the US stock market the futures are implying a higher opening on the back of positive trade news with China.
- Down industrial average, +100 points
- S&P index, +12 points
- NASDAQ, +36 points
In the European market, the markets are mixed:
- German DAX, unchanged
- France CAC, +0.2%
- UK's FTSE, -0.35%
- Spain's Ibex, +0.2%
- Italy's FTSE MIB, +0.1%
In the US debt market yields are down with the yield curve flatter by about two basis points.
In the European benchmark 10 year note sector, yields are mixed:
