The start of the new trading after gains in the greenback last month
Last month, the USD was the 2nd strongest of the major currencies, behind the GBP. Having said that the gains were modest as price action in a number of currency pairs chopped up and down. Today, the greenback is continuing the rise as it is the strongest of the majors, while the CHF is the weakest in the morning snapshot.
The ranges and changes show the EURUSD and GBPUSD near lows of the day although the GBPUSD was higher after some positive covid distribution news with the EU. The GBPUSD also ran into resistance against the high from last week. So the technicals were not supportive of more upside. The EURGBP reached the lowest levels since May, but has since bounced (with the GBPUSD decline).
In other markets a snapshot shows:Spot gold is is trading up $5 or 0.82% at $1863Spot silver is trading up $2.30 or 8.59% to $299.36. The Reddit traders piled into silver at the start of the week pushing the price above $30 briefly (the high reached $30.10)WTI crude oil futures are trading up $0.32 or 0.59% at $52.51 as reports that OPEC were sticking to their output targets
The price of bitcoin on Coinbase it is trading up $1270 at $33880 after trading as high as $38664 on Friday (before heading back down). The low over the weekend reached $32200 on Sunday
In the US stocks, the major futures indices are higher in premarket trading.S&P index is trading up 33 after falling -73.14 points on FridayDow industrial average is trading up 200 after tumbling -620 on friday
NASDAQ index is currently trading up 138 after falling -266.46 points on Friday
In the European equity markets have moved back higher after Friday’s fallGerman DAX, +1.4%France’s CAC, +1.3%
UK’s FTSE 100, +1.08%
Spain’s Ibex, +0.8%Italy’s FTSE MIB +1.2%
In the US debt market, yields are higher with a steeper yield curve.
The benchmark 10 year yields in Europe are trading mixed with gains in the Germany, France and UK and declines in Spain, Italy and Portugal (all are modest changes though).