The USD is mostly higher after declining yesterday
As North American traders enter for the day some of the trends from yesterday have reversed. The NZD and USD are heading into the NA session as the strongest of the major currencies. They are both close together for that distinction today. Recall from yesterday, the USD was one of the weakest of currencies. The JPY is the weakest of the majors today. Most of the pairs are close together with perhaps the exception of the JPY. The USDJPY has moved steadily higher after a step move lower this week. The pair stalled at 109.00 yesterday and bounced yesterday. The pair is now getting close to the falling 100 hour MA at 109.73. The high today reached 109.744.
Looking at the ranges and changes, the JPY pairs are all trading toward their highs but for the crosses, they fell first before moving higher. The AUSUSD and NZDUSD reversed gains from yesterday before bouncing back in the European session today. The USDCHF which trended lower yesterday, has rebounded more modestly higher today. The EURUSD which rose back above its 200 day MA, is back down testing both that MA AND the 200 hour MA at 1.1887 area.
In other markets:
- Spot gold was higher yesterday (was up near $20 at the highs) but is down $-11.30 or -0.64% at $1744.60.
- Spot silver is also reversed lower and trades down $0.24 or -0.97% at $25.21.
- WTI crude oil futures are trading marginally lower at $-0.17 or -0.29% at $59.43. The hi the low trading range today is somewhat narrow with a high of $59.95 and a low of $59.13
- Bitcoin it is trading up another $925 or 1.61% of $58,594
In the premarket for US stocks, the major indices are mixed after strong gains in the NASDAQ index in particular yesterday. The NASDAQ index is lower today while the Dow Jones and S&P are marginally higher. A snapshot of the implied openings from the futures shows:
- S&P index +3.83 points. The index closed at a record yesterday, up 17.22 points
- NASDAQ index -30.5 points. That reverses a margin of the 140.46 point gain seen yesterday. The index is still off the all-time high by about 2%
- Dow it up 68 points after rising by 57.31 point yesterday. I rise of this 92 would take the price above the all-time high close
in the European equity markets, the major indices are mixed:
- German Dax, unchanged
- Frances CAC, +0.2%
- UK's FTSE 100, -0.1%
- Spain's Ibex, -0.3%
- Italy's FTSE MIB, -0.1%
In the US that market, yields have also rebounded from yesterday's decline. The 10 year yield fell over five basis point yesterday. It is currently trading up over four basis points. The snapshot of the rates currently shows
In the European debt market, the benchmark 10 year yields are also higher, after the declines yesterday
Canada has the full employment stages at the bottom of the hour. The US released their jobs report last Friday. The US PPI data for March will be reported. It is expected to rise by 0.5%. Inflation measures will start to rise as year ago declines start to run off. A year ago PPI declined by -0.5%.
