The USD is higher vs all the major currencies with gains of 0.05% (vs CAD and EUR) up to 0.38% (vs the JPY). Most of the changes are between 0.05% and 0.20%, so there is not huge moves.
In the video above, I take a look at 3 of the major currency pairs – the EURUSD, USDJPY and GBPUSD – to kickstart the trading day in the North American session. In the video, I will speak to the bias, the risks, and the targets that traders can follow as a roadmap today.
As far as the day ahead, multiple FOMC members will be speaking throughout the day — Williams, Paulson, Waller, Bostic, Miran, and Collins — will provide key insights into the Fed’s policy direction following the dovish cut in October. The U.S. Treasury will return with the auction of a 10 year 10-year note (the US treasury market was close yesterday in observance of Veterans Day), and BoC Summary of Deliberations that the potential to move rates and CAD pairs.
US yields are lower to start the day with:
- 2 year note at 3.557%, -3.3 basis points
- 5 year yield 3.671%, -3.8 basis points
- 10 year yield 4.081%, -2.9 basis points
- 30 year yield 4.685%, -1.7 basis points
US stocks are also higher after a mixed session yesterday so the flow funds into the Dow stocks and away from the NASDAQ stocks. Today the 3 major indices are all higher with a snapshot of the imply openings from the futures showing:
- Dow industrial average is up 130 point
- S&P index is up 26.14 points
- NASDAQ index is up 156 points
Looking at other markets:
- Crude oil is trading down $0.89 or -1.51% at $60.13
- Gold is trading unchanged at $4126
- Silver is trading up 42 730.81% at $51.61
- Bitcoin is up $1800 at $104,873
