The NZD is the weak
The dollar is leading the way to the upside today with the greenback trading near the highs against all the major currencies. Stocks have rebounded modestly after the record falls yesterday that saw the major indices fall around -12%. The markets will remain volatile but the dollar is king - at least for the day. On the downside, the AUD and the NZD are moving lower. The EUR is also more to the downside.
Looking at the ranges and changes, the major indices have large ranges (again) and trading near session highs vs the USD. The JPY pairs, which rose earlier in the day, have given up gains and trades at the day lows.
In other markets:
- Spot golds is trading down -$40.11 as owners sell to raise capital (supposedly). That is down -2.64%. The price is at $1474.15
- WTI crude oil is up $0.18 or 0.66% at $28.89. The high is at $31.25 and the low is at $29.60.
In the pre-market for US stocks, futures are pointing higher but off the highest overnight levels:
- S&p up 61 points
- Nasdaq up 156 points
- Dow, up 508 points
In the European stock market:
- German DAX, -1.32%
- France's CAC, -1.09%
- UK's FTSE 100, -1.38%
- Spain's Ibex, +1.2%
- Italy's FTSE MIB, +0.47%
In the US debt market yields are moving higher after yesterdays sharp move lower:
In the European debt market yields 10 year yields are also moving up today. There is no flight into the relative safety of government debt as investors perhaps fear downgrades.
