As the North American session begins, the NZD is the strongest and the USD is the weakest.
Today the US initial claims will be released. It foreshadowed the strong rise in the US jobs report by trending below the 200K level last month. The estimate is 190K vs 183K last week. The continuing claims are expected at 1.658M vs 1.655M last week. Strong jobs will keep the Fed game plan alive with rates heading above 5% to 5.25% at the least, and keep the Fed well away from loosening policy. You can't go into a recession with unemployment rate at the lowest since 1969.
The BOJ will reportedly announce their new governor on February 14. As Justin points out, that will be the same date for the US CPI. Eamonn reports on the nomination and date as well HERE.
US stocks are higher in pre-market trading as Bob Iger and DIsney earnings impress and hint toward a resumption of the dividend. In the US debt market, yields are heading lower with the 10 year down -5.4 basis points. The Treasury will auction 30 year bonds at 1 PM. The 10 year auction was a big hit yesterday with huge international demand.
A look around the markets show:
- Spot gold is up $7.20 or +0.38% at $1882.24.
- Spot silver is up $0.11 or 0.53% at $22.41
- Crude oil is trading at $77.88. Yesterday crude oil settled at $78.47
- Bitcoin is trading at $22,724. The low price reached $22,378 dollars level since January 25
In premarket for your stocks, the features are implying a higher open after yesterday's declines:
- Dow Industrial Average is up 208 points after yesterday's -207.68 point decline
- S&P index is up 29 points after yesterday's -46.14 point decline
- NASDAQ index is up 131 points after yesterday's -203.27 point decline
IN the European equity markets:
- German DAX +1.2%
- France's CAC +1.2%
- UK's FTSE 100 +0.7%
- Spain's Ibex +0.7%
In the US debt market, yields are lower:
- two year 4.423%, -3.1 basis points
- five year 3.779% -4.0 basis points
- 10 year 3.584% -5.2 basis points
- 30 year 3.645% -6.7 basis points
in the European debt market, the benchmark 10 year yields are moving sharply to the downside
