Tuesday 23 November 2021

The EUR is the strongest and the NZD is the weakest as NA trading begins

The EUR is the strongest and the NZD is the weakest as NA trading begins

The USD is mostly higher

The EUR is the strongest and the NZD is the weakest as the North American trading begins.  Traders are faced with the SPR release of 50M barrels which initially led to a crude decline but has since bounced (buy the fact).  The low of oil reached down to $75.29 on the initial move but is back above $76.30 currently (and moving around).  Overnight flash PMI data in Europe were stronger.  The US stocks are mixed with Nasdaq down again. Dow up modestly.  US rates are higher. The US treasury will auction 7 year notes at 1 PM after some luke warm (cold?) response to the 2 and 5 year auctions yesterday.  Richmond Fed and PMI flash data will be released today. The price of gold is back below the $1800 level.

IN other markets:
  • Spot gold is down -$9.41 or -0.52% at $1794.85
  • Spot silver is down $0.40 -1.7% at $22.74
  • WTI crude oil futures are trading at $76.40 or -0.43%
  • Bitcoin is trading near unchanged at $56,288
In the for US stocks, the futures are mixed after the sharp fall in the NASDAQ index yesterday (-1.26%).  Both the NASDAQ and S&P traded at new all-time high prices intraday, but reversed by the closing closed near session lows. The Dow industrial average closed higher yesterday but also at the lows levels after giving up big gains:
  • Dow industrial average up 22 points after yesterday's at 17.27 point gain
  • S&P index is down -2.94 points after yesterday's -15 point decline
  • NASDAQ index -32 points after yesterday's sharp -202.68 point decline
in the European equity markets, the major indices are trading lower:
  • German Dax, -0.6%
  • France's CAC, -0.2%
  • UK's FTSE 100 unchanged
  • Spain's Ibex -0.1%
  • Italy's FTSE MIB -0.7%
In the US debt market yields are higher:


In the European debt market, benchmark 10 year yields are also sharply higher with the Italian 10 year up 9.3 basis points leading the way:



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November 24, 2021 at 12:52AM

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