The AUD is the strongest and the USD is the weakest as NA trader enter for day


  • share

Stocks are higher.

The election has had the results that the pundits expected. The dollar has declined. Yields are lower. The stock market is up….now at least.  I would expect volatility today and then the markets storyline’s will shift with Brexit, China, tariffs, the Fed, inflation, deficits, healthcare, border wall (and potential government shutdown), the «tone» (is it changed in the US and other countries where there is tension/contention), etc. as themes
Looking at the strongest and weakest, the AUD is the strongest.  Strong NZ employment just before the end of day yesterday, dragged the AUD up as well.  The weakest is the USD.  

Good ranges in the major currency pairs vs the USD as all saw big swings of volatility with a move toward the downside (for the USD).  The USD pairs are nearer dollar low levels but they are off the extremes to start the day. 

In other markets:

  • Spot gold is up $4.25 or 0.35% at $1231.42
  • WTI crude oil is up $0.60 or 0.96% at $62.81
  • Bitcoin is up $80 at $6502 and trades at the highest level since October 15th

IN the pre-markets in the US, futures are implying higher openings:

  • Dow is implying a 180 point rise
  • S&P is implying a 21 point rise
  • Nasdaq is implying a  81 point rise

In Europe, shares are higher:

  • German Dax, +0.8%
  • France’s Cac +1.1%
  • UK FTSE, +1.1%
  • Spain’s Ibex, +1.6%
  • Italy’s FTSE MIB, +1.2%

US yields are lower with the yield curve narrowing:
In Europe, the 10 year benchmarks are mostly up, with Italy yields taking back some of the move higher seen yesterday.

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