Modest changes as Trump awaited
The USD is the strongest of the majors, while the NZD is the weakest as inflation expectations were lower than expectations - sending the NZD sharply lower. Traders are awaiting Pres. Trumps speech at the Economic Club of New York at 12 noon.
Looking at the ranges and changes, the low to high ranges are modest with most of the pairs below their 22 day averages (red line in the lower chart). The GBPUSD has the largest range at 51 pips but is dragging off it's low. THe JPY pairs are mixed as the market awaits Trump's speech.
In other markets,
- spot gold is trading up $1.80 or -0.12% of $1454.10
- WTI crude oil futures are trading up $0.22 or +0.39% at $57.08
In the premarket for US stocks, the futures are implying a higher opening:
- Dow, +20 points
- NASDAQ +10 points
- S&P index +2.5 points
iI the European, the major indices are trading higher:
- German DAX, +0.5%
- France's CAC, +0.2%
- UK's FTSE 100, +0.38%
- Spain's Ibex, +0.1%
- Italy's FTSE MIB, +1.0%
In the US debt market, after being off in observance of Veterans Day yesterday, yields in the US are mixed with marginal gains in the front end of the curve and marginal declines in the backend (flatter yield curve)
In the European debt market yields are marginally higher:
