The CHF is the strongest and the JPY is the weakest as the NA session begins. The USD is weaker ahead of the US CPI data today where the expectations are for a number of 1.1% for the headline and reach another 4 decade high. Also today, the Bank of Canada is expected to raise rates at its meeting by 75 basis points to 2.25% from 1.5%. The RBNZ raised their rates by 50 basis points as expected overnight. European data today was better than expected. UK GDP came in better at 0.5% vs 0.1% estimate. EU industrial production came in at 0.8% vs 0.2% estimate. UK industrial production was also better than expected. The US treasury will auction 30 year bonds today after a tepid 10 year auction yesterday.
The US stocks are higher in pre-market trading. The US are marginally lower after two days of declines. Crude oil is marginally higher
A snapshot of the markets shows:
- Spot gold is up $4 and and $0.70 or 0.27% at $1729.58
- Spot silver is up $0.08 or 0.42% at $18.99
- WTI crude oil is trading at $96. That's up around $0.16 on the day
- The price bitcoin is trading just below the $20,000 level at $19,772.52
In the premarket for US stocks, the major indices are trading higher after yesterdays declines:
- Dow industrial average is up 118 points after yesterdays -192.51 point:
- S&P index is trading up 15.5 points after yesterdays -35.65 point decline
- NASDAQ is up 60 points after yesterdays -107.87 point decline
In the European markets, the major indices are moving lower
- German DAX, -127 points or -0.98%
- France's CAC -51.58 points at -0.85%
- UK's FTSE 100 -45.73 points or -0.64%
- Spain's Ibex -47 points points or -0.59%
In the US debt market, yields are trading marginally lower. Today the US treasury will auction off 30 year bonds at 1 PM ET.
- 2 year, 3.049%, -0.4 basis points
- 5 year 3.006%, -1.3 basis points
- 10 year 2.954%, -1.7 basis points
- 30 year 3.15%, -1.3 basis points
In the European debt markets, the benchmark 10 year yields are mostly higher:
