The USD is lower
As NA traders enter for the day, the Hong Kong news of dropping the extradition to China legislation, has equities higher and risk on flows. Fed's Bullard suggested 50 bps is the right move now. The GBP is rallying as no deal Brexit fears are less. Overall, the GBP is the runaway strongest with AUD a distant second, and the JPY and USD are the weakest.
The GBP pairs are taking center stage once again when looking at the ranges and changes for the major currency pairs. The JPY pairs are also higher on the day and near the highs for the day.
IN other markets:
- Spot gold is following the "risk off" flows It is down -$984 or -0.63% at $1537.33
- WTI crude oil is up $0.89 or 1.63% at 54.82
In the pre-market for US stocks the futures are implying higher openings:
- Dow, +225
- S&P index, +25.5
- NASDAQ index, +78
In European markets, major indices are also higher:
- German DAX, +1.0%
- France's CAC, +1.1%
- UK's FTSE, +0.35%
- Spains Ibex, +0.8%
- Italy's FTSE MIB, +1.6%
In the US debt market yields are higher. The morning snapshot is showing:
The benchmark European 10 year yields are also mostly higher with the exception of the Italian yields:
