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

The USD is mostly lower 

As the North American session begins, the NZD is the strongest of the majors, while the CHF is the weakest. The USD is weaker after the as the House of Representatives passed an $1 trillion infrastructure spending bill on Friday night (with 13 GOP voting for the bill and 6 Democrats not supporting the bill). The bill provides around $550 billion extra federal spending on roads, bridges, water systems, infrastructure for charging electric vehicles, and broadband. Fed's Powell speaks today after last week's decision to start the taper at $15B per month (with December taper also announced).  Other Fed speakers today include NY President Williams, Philadelphia Pres Harker, Board Governor Bowman, and Chicago Pres. Evans.  

IN other markets as North American traders enter for the day/week shows:

• Spot gold is up about one dollar or 0.6% at $1818
  
• Spot silver is up $0.10 or 0.4% at $24.24
  
• WTI crude oil futures are trading at $82.01 that's up 0.9% on the day
  
• bitcoin is up $2500 at $65,873. The high price reached $66,433. That's getting nearer the all-time high of $67,016 

The premarket for US stocks are trading marginally changed after record closes once again on Friday. The NASDAQ index is up 10 straight days. That index is marginally lower at  the moment.  The stock futures are implying

• the Dow industrial average up 84 points
  
• S&P index is up 3.47 points
  
• NASDAQ index is down -7.3 points.
  

The European stocks are trading mixed:

• German Dax, -0.2%
• France's CAC +0.25%
• UK FTSE 100, unchanged
• Spain's Ibex, -0.3%
• Italy' FTSE MIB -0.2%

In the US debt market, the yields across the maturity spectrum are higher with the yield curve trading near unchanged. 

In the European debt market, the benchmark 10 year yields

November 09, 2021 at 01:09AM

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