The GBP is the strongest. The JPY is the weakest at the start of the NA session

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The USD is lower/mixed/little changed

As North American traders enter for the day, the GBP is the strongest taking its cue from higher earnings (ignoring Brexit/no-deal potential). The JPY is the weakest as stocks have more of a calm today (US pre-market is higher).  The NZD moved higher in the first hour of the day on better than expected CPI data (0.9% vs 0.7% expected).  
The USD is showing little changes vs EUR, CHF AUD and declines vs the GBP (-0.50%), NZD and CAD. The dollar is higher vs the JPY. A more lower, mixed, little changed day all in one. 

There is not a lot of volatility as most of the major pairs vs the USD have ranges of 44 pips or lower for the day. Those are well below their 22-day averages.  GBP pairs show the most volatility and are trading near extremes entering the day. 

In other markets:

  • Spot gold is up $3 or 0.26% at $1230
  • WTI crude oil is down $0.42 reversing the modest gains from yesterday’s trading at $71.35. 
  • Bitcoin is up $61 at $6451 on Coinbase. The 100 day MA is at $6758.86. The high reached $6493.11 today so far

In the pre-US stock opening, futures are implying a higher opening:

  • S&P index up 11 points
  • Dow industrial averageup 122 points
  • NASDAQ up 50 points

In Europe, stocks are higher:

  • Stoxx up 1%
  • German Dax up 0.7%
  • UK FTSE unchanged
  • France’s Cac up 0.7%
  • Spain’s Ibex up 1.3%
  • Italy FTSE MIB up 1.2%

IN the US debt market a snapshot is showing yields are higher by about 2 bps across the board.

European yields in the 10 year benchmarks are mostly going the other way:




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