The USD is mostly lower
With trading volatility contained to start the week, the NZD is the strongest while the AUD is the weakest to start the trading week. The USD is mostly lower with declines vs all the major currencies with the exception of the JPY and AUD. Even then, the changes vs. those currencies are very modest (0.02% vs the JPY and 0.04% vs the AUD).
The changes and ranges shows the modest volatility in trading today. The GBPUSD, USDJPY, USDCAD, AUDUSD are all within 5 pips from unchanged. The EURUSD is the farthest of the major pairs from the unchanged line at +22 pips.
All the major pairs and the major crosses are trading below their 22 day trading ranges (red line in the lower chart). The biggest mover is the AUDNZD and the GBPNZD which are trading near low levels
In other markets, a snapshot shows:
- Spot gold down -$1.00 or -0.09% at $1222.15
- WTI crude oil is up $1.44 or 2.10% at $70.15. The contract price remained above its 100 day MA last week (currently around $67.75).
- Bitcoin is trading down -$60 at $8133. The 100 day MA is at $7600. The 200 day MA is at $8459. Those are key support and resistance levels to start the week.
Premarket implied stock openings in the US:
- Dow up 32 points
- Nasdaq -7points
- S&P -2.5 points
In the US debt market, yields are higher, with the yield curve steepening:
The 2-10 year spread is around 30.4 bps, up 2 bps from Friday closing levels.
In the European 10 year debt market, yields are also higher to start the week:
Earnings today before the bell:
- Caterpillar ($2.97 vs $2.73 exp. Rev 14B vs 13.88B exp.)
- Loews
- Booz Allen Hamilton
- Seagate Technology
After the close:
- AK Steel
- Denny's
- Rent a Center
- Transocean
- Illumiina
For the week, Apple reports on Tuesday after the close.
Others reporting this week include:
- Procter & Gamble
- Pfizer
- Baidu
- Sprint
- Tesla
- Square
- Wynn Resorts
- CBS
- Teva Pharma
- Dow DuPont
- Shake Shack
- Kraft Heinz
- Berkshire Hathaway
