USD is stronger as flight to safety and out of risk prevails.
Global stocks are lower. US rates are lower too (but only 3-4 bps). Gold is following the dollar and not a bid to safety. All on the back of the continued trade war a brewing as Pres. Trump plays chicken with China (and others) and the markets.
Here is the snapshot as the NA session gets underway.
As far as ranges go, they are extended with the JPY pairs leading the way. They are also trading near low levels as they trend lower.
US stocks are looking weak with futures implying weaker openings:
- S&P is down -24 points
- Nasdaq is down -85 points
- Dow is down -295 points
US Yields are lower on flight to safety bids:
- 2 year 2.520%, -2.9 basis points
- 5 year 2.754%, -3.5 basis points
- 10 year 2.83%, -3.2 basis points
- 30 year 3.020%, -2.8 basis points
In other markets:
- Spot gold $-6.97 or -0.54% at $1271.40
- WTI crude oil futures are trading at $.79 or 1.21% at $65.85
- Bitcoin is trading at $6724.
In overseas markets:
- Japan's Nikkei fell -1.77%
- Shanghai composite fell -3.78%
- hang Sang index fell -2.78%
IN Europe this morning:
- German DAX is down -1.31%
- UK's FTSE is down -0.5%
- France's CAC is down -1.26%
- Spain's Ibex -0.60%
- Italy's FTSE MIB -0.5%
US housing starts for May are expected to come in at 1311K versus 1287K last month, while building permits are expected to come in at 1350K versus 1352K last month.
World Cup schedule today (London time):
- Columbia versus Japan, 1 PM
- Poland versus Senegal, 4 PM
- Russia versus Egypt, 7 PM
