It’s Friday folks
It’s Friday folks, and stocks are on shaky ground.
However, pre-market in the US is down but only a little (yesterday stocks fell 2.4% and more, the Nikkei was down -4.51%, Shanghai down -3.39%).
Bond yields are up a little after yesterdays flight into safety fall (I guess that is the excuse).
US will release core durable goods and Canada has CPI, and retail sales on the calendar.
All of that, along with the clock clicking toward the weekend, can bring uncertainty and choppy markets. Be aware.
The strongest currency is the NZD. The USD is the weakest (see chart below). That is the snapshot at the start of the day.
Looking at the trading changes and ranges, has the NZDUSD near the highs. THe EURUSD is also back up and testing the highs for the day. The JPY pairs were much lower early in the Asian session as stocks got hammered in that region, but have been recovering.
The snapshot of other markets are showing:
- Spot gold up $12 or 0.90% at $1340.87
- WTI crude oil futures were up $.20 or 0.30% at $64.49
- Bitcoin is trading down $91 and $8500. The lows for the day have stalled near the key to hundred hour moving average at $8379
The Dow is now implying a higher opening (up 42 points).
US yields are showing:
- 2 year 2.282%, +0.4 basis points
- five-year 2.63%, +0.8 basis points
- 10 year 2.844%, +2.0 basis points
- 30 year 3.095%, +3.4 basis points