The USD is weaker ahead of jobs data
The NZD is the strongest of the major currencies and the JPY is the weakest ahead of the historic jobs data at the bottom of the hour. The USD is also mostly lower with modest declines versus the EUR, GBP, CHF and CAD. The greenback is down little versus the AUD and NZD. It is higher versus the JPY for the jobs data. Canada employment statistics will also be released. The loonie is mixed in the North American morning snapshot.
The ranges and changes are showing modest price action as the market awaits the data and the reaction. The USDCAD is the largest range at 71 pips . The USDCAD is trading near the session lows but was up earlier in the day. The JPY crosses are mostly higher as there is some below into risk on (which can include a movement away from the relative safety of the JPY).
In other markets, the snapshot of the markets is showing:
- spot gold is trading up $5.70 or +0.33% at $1721.67. Yesterday the precious metal rose over $30
- WTI crude oil futures are marginally higher at $0.12 or 0.47% at $23.66. The July contract is up $0.27 or 1.09% at $25.10
in the premarket for US stocks the major indices are higher
- S&P index is +31 points
- Dow is up 250 points
- NASDAQ is up 93 points
in the European equity markets:
- German DAX +1%
- France's CAC, +0.9%
- UK's FTSE 100, +1.4%
- Spain's Ibex, +0.4%
- Italy's FTSE MIB, +0.6%
In the US debt market, yields are lower modest by about 1 to 2 basis points after sharp moves lower yesterday. The 2 year yield made another all time low at 0.111% today. The yield curve is flat versus the close yesterday:
The benchmark 10 year yields in Europe are trading mostly lower. The UK yield is unchanged on the day.
