The USD is mostly higher

As the NA traders enter for the day, the ranking of the major currencies shows the JPY is the strongest, while the AUD is the weakest. The BOJ kept policy unchanged and the market price moved down, then back up and back down again. For the AUD commodity prices fell and the trade tariffs imposed by Trump on China, will not be good for Austalia if China loses market share as a result (which is Trump's intentions).

The ranges are mixed. The GBPUSD, AUDUSD and the USDJPY are each lower with decent trading ranges coming into the NY session. The GBPUSD is also trending to the downside today and trades near the session lows. Meanwhile the USDCHF is taking the day off (at least for now). GBPJPY is racing to the downside on the back of the GBP weakness and the JPY strength.

The snapshot of other markets at the start of the NY session is showing:

  • Spot gold $2.50 or 0.19% at $1336.20
  • WTI crude oil futures are up $.31 or 0.49% at $63.88
  • In the US premarket futures are mixed. NASDAQ futures are up 5 points. Dow futures are up 3 points. The S&P futures are near unchanged levels. All 3 major indices close at record levels yesterday
  • in the US debt market, yields are lower. Two-year 2.057%, -0.4 basis points. Five-year 2.429%, -2.0 basis points. 10 year 2.624%, -2.6 basis points. 30 years 2.890%, -2.2 basis points
  • European stock indices are mostly higher. German DAX up 0.75% France's CAC up 0.05%. UK's FTSE up 0.29%. Spain's Ibex of 0.19%. Italy's FTSE MIB unchanged
  • Ten-year yields in Europe are lower. Germany 0.559%, -1.0 basis points. France 0.837%, -0.6 basis points. UK 1.341%, -1.7 basis points. Spain 1.375%, -1.9 basis points. Italy 1.905%, -1.8 basis points
  • Bitcoin on Bitstamp is trading down $52 at $10,298. The low today extended to $9927.54. The high extended to $10,994.55

The Richmond Fed manufacturing index will released at 10 AM ET/1500 GMT. The estimate is for a reading of 19 verses 20 last month.

EU consumer confidence will also be released at 10 AM PT/1500 GMT with an estimate of 0.6 versus 0.5