The USD is mixed
As traders focus on a Brexit delay, or on a Brexit deal, the GBP has gotten a boost. PM May speaks to her plan now. So the snapshot may change, but so far, the GBP is the runaway strongest currency of the day with major pairs up 0.66% to 1.08%. The AUD is the weakest on the day as investors shun risky currencies. Stocks are looking to open lower as traders dial back optimism on a US/China deal.
Fed's Powell speaks testifies before the Senaate Banking committee at 10 AM. The prepared text will be released at 9:45 AM ET. Housing starts and buliding permits, Richmond Fed index, consumer confidence and S&P HPI index will all be released today.
The ranges and changes are showing spikes in the GBP pairs with all the pairs trading above their 22 day average ranges (about a month of trading). The other major pairs vs the USD are struggling. The EURUSD range is only 26 pips. The USDJPY moved back lower after breaking higher yesterday in the NY session. Prices moved back to the 100 hour MA at 110.77 area.
A snapshot of other markets:
- Sppot gold is down down -$1.87 or -0.14% at $1325.72
- WTI crude oil is up $0.15 or 0.25% at $55.61. Yesterday Pres Trump started to get on OPECs case again, to lower the price of crude
- Bitcoin is down -$22.31 at $3782.50. The digital currency remains below the 100 hour MA at $3906.72
US stock futures are implying a lower opening. Home Depot earnings missed. Macy's beat.
- Dow, -72 points
- S&P, 4.2 points
- Nasdaq, down -18 points
IN Europe,
- German Dax, -0.13%
- France's CAC, -0.16%
- UK FTSE -0.76%
- Spain's Ibex -0.45%
- Italy's FTSE MIB, unchanged.
Yields in the US are moving lower today with the 2-5 year leading the way:
European benchmark 10 year yields are mostly lower with the exception of the UK 10 year which is up 2.7 bps.
