The USD is mixed
The EURUSD is leading the majors with an even 100 pip trading range on the day. The pair is near session lows and is down -69 pips on the day. The USDCHF is near it’s high and USDCAD is near it’s lows (-48 pips on the day) The USDJPY and JPY crosses today are subdued with well below average trading ranges and modestly changed on the day (from -5 pips for the USDJPY to +22 pips for the CADJPY).
- Spot gold is trading down $ 5.50 or -0.32% $ 1696.66
- WTI June crude oil it is trading up $ 2.16 or 10.59% at $ 22.55. The July contract is trading up $ 1.92 or 8.43% of $ 24.70
In the pre-market for US stocks the futures are implying higher levels
- Dow is +243 points
- S&P is +27 points
- Nasdaq is up 97 points
In the European market, the major European markets are trading up despite the German court ruling
- German DAX +1.89%
- France’s CAC what’s 1.5%
- UK FTSE +1.4%
- him Italy’s FTSE MIB +0.9%
In the US debt market, the yields are marginally higher (US 10 year yield is trading up 2.5% basis points), with a steeper yield curve. This continues the modest moves higher seen yesterday (10 year up 2.3 basis points).
In the European debt market, the benchmark 10 year yields are mixed with Germany, France, UK yields mostly lower. Investors are shunning Spain, Italy and Portugal debt (Italian yields are up 10.5 basis points).