US dollar recovers some of the losses fro yesterday but mixed
The GBP is the strongest currency of the day, but as Mike has pointed out, the ride is a wild one with sharp moves higher and lower in the pairs. So don't blink. The NZD is the weakest despites solid retail sales. Go figure.
It's Friday folks and no economic data out of the US but lots of Fed stuff and Canada retail sales will be released.
- Canada retail sales up at the bottom of the hour (0.5% MoM and 1.5% YoY).
- Later at 10:15 AM ET/1515 GMT Dudley and Rosengren speak on the Fed Balance Sheet.
- At 11 AM the Fed Monetary Policy Report (the report is submitted ahead of the testimony of Fed Chair Powell to the Senate Committee on Banking, Housing, and Urban Affairs and to the House Committee on Financial Services next week).
- Fed's Mester and ECBs Coeure are on a panel in NY at 1:30 PM ET/1830 GMT.
- Fed's Williams will speak at 3:40 PM ET/2040 GMT on outlook of the US economy.
It has the potential to be a wild Friday so trade with some caution.
The ranges are below the 22 day norm with the GBP pairs having the biggest ranges.
A snapshot of other markets at the start of the NA session shows:
- Spot gold is down -$1.65 or -0.13% at $1330.51
- WTI crude oil futures are near unchanged levels at $62.75 after the big move higher yesterday
- Bitcoin is trading up $285 to $10,200.
US stocks are higher:
- Dow futures are up 126 points. Imply 188 point open
- S&P futures were up 12 points.
- Nasdaq futures are 38 points.
US yields are lower:
- 2 year 2.29%, -1.6 basis points
- five-year 2.623%, -3.1 basis points
- 10 year 2.882%, -3.8 basis points
- 30 year 3.17% -3.8 basis points
