The USD is mostly lower

It is one of the calmer risk days as the Turkish Lira has rebounded and there is less anxiety in the market as a result. That has helped to send the JPY to the weakest slot on the majors in the early North American snapshot. The CAD and the NZD are the strongest. The USD is mostly lower on an easing into the relative safety of the greenback.

The ranges for the major currency pairs vs. the US are all below the 22 day average trading range (about a month). The GBPUSD ran higher ahead of the employment report but backed off after. The GBPUSD and the GBP crosses had bigger moves with the GBPJPY leading the way. Like the GBPUSD, it moved higher into the numbers, and then backed off after them.

The USDCHF and USDCAD are trading in the red, and near the day low levels in early NA trading.

In other markets:

  • Spot gold is rebounding modestly on the modest fall in the USD. The precious metal which fell and close below the $1200 level yesterday for the first time since February/March 2017, is still below that level at $1195.76, but is up $2.35 or 0.2%. The high reached $1197.15.
  • Crude oil is trading up $0.85 or 1.25% at $68.04. The lower dollar is also a bit of a tailwind today.
  • Bitcoin on Coinbase down -$250 at $6034. The digital currency fell below the $6000 level to $5900 in trading today. The low from June 24th reached $5777 and will be targeted on continued selling.

Stocks are looking to open higher in pre-market trading.

  • Dow is up $102 points
  • S&P is up 10.50 points
  • Nasdaq is up 36 points

US yields are little changed:

  • 2 year 2.624%, up 1.2 bps
  • 5 year 2.758%, up 0.8 bps
  • 10 year 2.882%, up 0.4 bps
  • 30 year 3.044%, down -0.2 bps