The USD modestly higher
As the NA session begins, the NZD is the strongest and the EUR is the weakest. The NZD rose after the RBNZ said that the "unconstrained OCR track indicated the Bank now views that around 100bp less stimulus is necessary" ... consensus expectations had been for the RBNZ to move to a negative cash rate from March 2021. That helped to push the NZD pairs sharply higher. They are off the highs however. The EUR has steadily declined with the EURUSD falling for the 100 hour MA above to the 200 hour MA below.
The ranges and changes are showing mixed results with the EURUSD and GBPUSD trading near session lows to start the trading day, after trading higher earlier in the day. The JPY crosses are mixed. AUDNZD is moving lower as the AUDUSD is lower and the NZDUSD is higher.
In other markets:
- Spot gold is trading down $4 or -0.22% at $1873.25
- Spot silver is trading down $0.04 or -0.17% $24.18
- WTI crude oil futures are trading up $1.10 or 2.66% of $42.46
In the premarket for US shares, the futures are implying a higher opening across the board. Nasdaq shares are looking to halt a 2-day decline
- Dow +191 points
- S&P, +29 points
- Nasdaq +146 points
In the European markets, the major indices are continuing their runs to the upside
- German DAX, +0.5%
- France's CAC +0.7%
- UK's FTSE 100, +1%
- Spain's Ibex, +1%
- Italy's FTSE MIB, +0.9%
In the US the bond markets are closed and observance of Veterans Day
In Europe, the benchmark 10 year yields are moving lower.
