The USD is higher
As the North American session begins, the JPY is the strongest and the GBP - fresh off the unchanged policy decision - is the weakest (and getting weaker). The USD is training mostly higher with gains against all the major currencies with the exception of a small decline verse the JPY. The Bank of England it keep rates unchanged by a 7– 2 vote. There was the possibility of a rate hike from the market. That hope is being priced out.
In other markets:
- Spot gold is trading up $13.16 reversing some of the declines seen in a yesterday's trade. The current price is trading at $1781.80.
- Spot silver is also higher by $0.22 or 0.93% $23.72
- WTI crude oil futures are trading up $1.65 or 2.16% at $82.51
- Bitcoin is down about $1300 and $61,648. The high price reached $63,136.82 earlier today
In the premarket for US stocks, the major indices are higher after record closes yesterday (once again)
- Dow industrial average is up 19 points after yesterday's 104.95 point gain
- S&P index is up 8.32 points after yesterday's 29.92 point gain
- NASDAQ index is up 62 points after yesterday's 161.98 point gain
in the European equity markets, the major indices are trading higher
- German DAX, +0.5%
- France's CAC, +0.4%
- UK's FTSE 100, +0.4%
- Spain's Ibex, +0.45%
- Italy's FTSE MIB +0.4%
In the US rate market, the yield curve is higher with the 2– 10 year spread up over three basis points to 113.8 basis points versus 110.1 yesterday. The 30 year yield is back above the 2% level at 2.017%. The two year yield is down -4.2 basis points after the Fed decision yesterday at 0.436%.
In the European debt market, the benchmark 10 year yields are also lower across the board. The German yield is back near -0.20%. UK 10 year is back near 1.0% after trading as high as 1.07%.
