Flows back in the dollar today stocks reverse lower
The USD is the strongest and the AUD is the weakest as the North American session begins. The rise in the dollar reverses the decline yesterday. Stocks and yields are lower. Gold is lower, as is oil (lowest level since 2002) as the risk off trade sentiment rises. Concerns have the global recession have resurfaced.
The ranges and changes are showing some decent ranges with the greenback near extreme levels vs all the major currencies. The USDJPY is the most tied to the dollar as it shows only a 15 pip gain on the day with price action above and below the 0 level.
In other markets:
- Spot gold is down -$5.94 or -0.32% at $1721.84
- WTI crude oil is trading down $0.57 or -2.83% at $19.54
In the premarket for US stocks the futures are implying a lower opening:
- Dow -413 points
- NASDAQ -112 points
- S&P index -56 points
In the European equity markets, major indices are down over 2%:
- German DAX, -2.5%
- France CAC, -2.1%
- UK's FTSE 100, -2.3%
- Italy's FTSE MIB, -2.6%
- Spain's Ibex -3%
In the US debt market yields are lower with the yield curve flattening:
In Europe, the yields are mixed with Germany, France, and the UK down while investors are shunning Spain, Italy and Portugal benchmark 10 year notes:
