The USD is stronger
The EUR political issues in Italy and Spain are wrecking havoc with the EUR. That has made the EUR the weakest, while the JPY is getting safe haven flows and is the strongest. The USD is also get some safe haven movement.
The trading ranges are extended in the EURUSD, GBPUSD, USDJPY and USDCHF vs. their 22 day average ranges (about a month of trading). The commodity currencies are lagging. The JPY crosses are all on the move but off lows as well.
In other markets, the snapshot is showing:
- Spot gold is hired by $4 at $1302
- WTI crude oil futures are down $.80 or -1.18% at $67.08
- Bitcoin on Coinbase is trading up $177 at $7389. The price traded as low as $7058 today, before rebounding. The price did move above the 100 hour MA at $7337.52. That was the first break above the 100 hour MA since May 22nd
US stocks in premarket trading are implying lower openings:
- Dow futures imply a -180 point decline
- S&P futures imply a -20.28 point to court
- NASDAQ futures imply a -45 point decline
US yields are sharply lower:
- two-year 2.431%, -4.4 basis points
- five-year 2.699%, -6.5 basis points
- 10 year 2.873%, -5.8 basis points
- 30 year 3.051%, lies 4.0 basis points
The yields in Europe are all over the place with flows into the German debt issues. Italy, Portugal, Spain bonds are being shunned.
10 year yiields in Europe are showing:
- Germany 0.31%, -3.4 basis points
- France 0.683%, -1.5 basis points
- UK 1.25%, -7.0 basis points
- Spain 1.626%, +10 basis points
- Italy 3.07%, +39.2 basis points
- Portugal 2.198%, +12.7 basis points
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