The rout continues
As the rout continues in the stocks this morning, the JPY is the strongest and the AUD is the weakest. The USD is stronger but the JPY is overwhelming the downside. The NZD is following the AUD as the weakest.
The ranges and changes are showing bigger than normal ranges (higher than 22 day average ranges - red line in lower chart). The dollar is near the high levels for the day with the exception being the USDJPY where the greenback is lower. The dollar was lower earlier in the day, but has strengthened into the NA open
In other markets:
- Spot gold is down -$10.60 or -0.65% at $1624.30
- WTI crude oil down $2 or -6.19% of $30.94
In the US equity markets, the futures are implying sharply lower levels, with the major indices each down over 5%:
- Dow Jones is -1191 points
- S&P index is -138 points
- NASDAQ index is down -402 points
In the European equity markets the major indices also sharply lower:
- German DAX, -5.0%
- France's CAC -6.12%
- UK's FTSE 100 -5.32%
- Spain's Ibex, -5.7%
- Italy's FTSE MIB, -5.13%
In the US debt market yields are sharply lower with the 10 year down 19.2 basis points:
in the European debt market the split between the "stronger" and "weaker" continue. The German France and UK yields are lower, the Spain, Italy and Portugal yields are higher
