Ranges are light
The USD is the strongest while the CHF is the weakest as NA traders enter for the day (and for the week for many after yesterday's holiday).
The ranges are somewhat light. The dollar trends are mixed. While the EURUSD and the GBPUSD are lower, the snapshot this morning is showing the EURUSD near the session lows, but the GBPUSD is working it's way back toward unchanged on the day.
There is going to be little in the way of economic data today with only the Canada Wholesale Sales for December due out at 8:30 AM ET/1330 GMT (expectations +0.4%). At 10 AM the EU consumer confidence for February is expected to come in at 1.0 vs 1.3 last month. The US auctions 3 and 6 month bills, 4 week bills and 2 year notes. The US treasury will auction $258 billion of debt this week.
A snapshot of other markets is showing:
- Spot gold down -$7.40 on the stronger dollar at $1339.00
- WTI crude oil is up $0.33 at $62.01
- US yield are higher: two-year 2.218%, up 2.9 basis points. Five-year 2.661%, up 3.2 basis points. 10 year 2.902%, up 2.7 basis points. Thirty-year 3.154%, up 2.3 basis points
- US stock futures imply a lower opening: S&P futures imply a -14.62 decline. Dow futures imply a -150 point fall. NASDAQ futures imply a -37.6 point fall
- German DAX, +0.16%. France's CAC, +0.1%. UK's FTSE, -0.2%. Spain's Ibex, up 0.6%. Italy's FTSE MIB, unchanged
- European 10 year notes are of about a bit: Germany 0.739%, up 0.5 basis points. France 0.996%, unchanged. UK 1.599%, unchanged. Spain 1.520%, up one basis point. Italy 2.056%, up 1.3 basis points. Portugal 2.033%, up 1.2 basis points
