The USD is mostly lower
The AUD is the strongest and the JPY is the weakest as the North American session begins. The USD is mostly weaker with most of the declines versus the AUD and the NZD. US stocks are higher in premarket trading. US yields are lower. The Northeast is waking to the destruction from the remnants of Hurricane Ida which dumped torrential rains in a short period time and caused flash flooding (and exposed infrastructure problems). Initial jobs claims (estimate 342K), revised nonfarm productivity, US trade balance will be released at the bottom of the hour. Factory orders in the US will be released at 10 AM. Fed’s Bostic and Daly will be speaking (at 1 PM and 3 PM respectively).
In other markets:
- Spot gold is trading up to dollars $0.45 or 0.14% at $1815.50.
- Spot silver is up three cents or 0.12% at $24.14
- WTI crude oil futures are up $0.24 or 0.36% $68.84
- Bitcoin is trading up $1300 and back above the $50,000 level at $50,202
In the premarket for US stocks, the major indices are higher. The NASDAQ index closed at a record level yesterday. The S&P close just below record closing level.
- Dow futures implying a gain of 58.47 points
- S&P futures imply a gain of 8.4 points
- NASDAQ futures imply a gain of 42 points
In the European equity markets, the major indices are trading mixed:
- German DAX unchanged
- France’s CAC +0.1%
- UK’s FTSE 100 -0.1%
- Spain’s Ibex -0.2%
- Italy’s FTSE MIB -0.1%
The US debt market, the yields are trading lower by about 1.5 basis points
In the European debt market, yields are higher.