The USD is mixed
The NZD is the strongest. The GBP is the weakest in the North American morning snapshot. The ECB kept rates unchanged but they changed the target for the next hike until the end of year (at least) and the unveiling of new TLTRO policy (set to last 2 years). The EUR is lower after the decision, but is still higher than the GBP. The USD is mixed.
The GBPUSD has the largest trading range at 74 pips and is trading toward the lows for the day. The EURUSD fell after the decision and is down -12 pips on the day, but is off the lows.
The rest of the pairs vs the USD only have ranges of less than 32 pips (not a lot). There is room to roam. The major crosses also have limiited trading ranges. The GBPJPY - like the GBPUSD - is trading down and near its low for the day. THe GBPNZD is the also near lows for the day.
In other markets, the morning snapshot shows:
- Spot gold up $0.46 at $1287.
- WTI crude oil up $0.67 or 1.19% at $56.89
In the 10 year note sector in Europe after the change, the major countries benchmark yields are lower after the policy adjustment (and off higher levels). Below is a snapshot of the current yields and the ranges/changes.
In the US, yields across the yield curve are also lower on the day:
The US stock features are implying small gains after trading lower earlier:
- Dow, +17 points
- S&P, +2.7 points
- NASDAQ, +2 points
In the European stock markets, most indices are higher:
- German DAX, +0.1%
- France's CAC, +0.2%
- UK's FTSE, -0.14%
- Spain's Ibex, +0.58%
- Italy's FTSE MIB, +0.67%
