The AUD is the strongest and the CHF is the weakest

forex

The strongest to weakest of the major currencies

The AUD is the strongest and the CHF (and EUR) is the weakest of the major currencies. The USD is mixed to lower with the dollar’s decline vs the AUD and the NZD accounting for all of the declines. The USD is modestly changed vs the EUR, GBP, JPY, CHF and CAD (gains or losses of 0.08% or less changes on the day).

Russian forces moved toward the Ukraine capitol of Kyiv, with missile strikes against airports and military infrastructure across the country limiting the potential response from the countries military (reports of 70 military targets hit). The Russian army is pushing in from the north, west and south – virtually from all directions where Russia controlled land and Ukraine land touch (and from the sea).

The US and other NATO allies are imposing economic sanctions in an attempt to impose financial pain from the isolation from the rest of the world.

Ukraine

The Russian troop advancement into Ukraine (NY TImes)

US shares are lower in pre-market trading but off overnight lows after the sharp rebound yesterday. The European shares are higher, as they played catch up to the late afternoon surge in the US.

Crude oil is higher on the day. Gold is modestly higher after giving up gains yesterday. Gold is back trading above and below $1900 after reaching up to $1976.65 in a flight to safety bid yesterday.

Wheat stayed limit up yesterday at $9.34 per bushel, and moved higher to $9.60 when limits were expanded today, but moved off of limit high levels in after hour trading moving to $8.92 low (closed overnight trading at $9.08). Corn also moved lower after peaking at $7.18. It traded to a low of $6.66 (that is an interesting number) overnight before settling at $6.82.

Focus will return (at least temporarily) to US data today with Core PCE (est 0.5% and 5.1% vs 4.9% last), preliminary durable goods orders, personal income and personal spending all schedule to be released at 8:30 AM.

At 10 AM, the revised University of Michigan consumer sentiment and US pending home sales will be released

A snapshot of the markets currently shows:

  • Spot gold is trading up $2.40 or 0.13% at $1905.28
  • Spot silver is trading up up three cents or 0.19% at $24.25
  • WTI crude oil is trading up up $0.52 at $93.31
  • Bitcoin is trading up $537 at $38,914

In the premarket for US stocks, the major indices are down modestly and off their lowest overnight levels. Yesterday losing streaks in all the major indices were snapped

In the European stock market, the major  indices 
Indices

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can
invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track an index. The difference between an index fund’s performance and the index, if any, is called tracking error. Most major countries boast multiple indices. Commonly traded indices include the S&P 500, NASDAQ-100, Dow Jones Industrial Average (DIJA), EURO STOXX 50, Hang Seng Index, and many more.Stock market indices can be characterized or segmented by the index coverage set of stocks. The overall coverage of an index constitutes an underlying group of stocks, most commonly grouped together by underlying investor demand.How to Trade IndicesRetail brokers offer indices exposure through the use of contracts-for-difference (CFDs) or exchange-traded funds (ETFs). Each are popular ways to trade specific markets and are almost always on offer at most brokers.Investors can choose between multiple types of indices that traditionally fall within several categories. This includes country coverage, regional coverage, global coverage, exchange-based coverage, and sector-based coverage.All indices are ultimately weighted in a number of different ways. The most common mechanisms include market-capitalization weighting, free-float adjusted market capitalization weighting, volatility weighting, price weighting, and others.

Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track an index. The difference between an index fund’s performance and the index, if any, is called tracking error. Most major countries boast multiple indices. Commonly traded indices include the S&P 500, NASDAQ-100, Dow Jones Industrial Average (DIJA), EURO STOXX 50, Hang Seng Index, and many more.Stock market indices can be characterized or segmented by the index coverage set of stocks. The overall coverage of an index constitutes an underlying group of stocks, most commonly grouped together by underlying investor demand.How to Trade IndicesRetail brokers offer indices exposure through the use of contracts-for-difference (CFDs) or exchange-traded funds (ETFs). Each are popular ways to trade specific markets and are almost always on offer at most brokers.Investors can choose between multiple types of indices that traditionally fall within several categories. This includes country coverage, regional coverage, global coverage, exchange-based coverage, and sector-based coverage.All indices are ultimately weighted in a number of different ways. The most common mechanisms include market-capitalization weighting, free-float adjusted market capitalization weighting, volatility weighting, price weighting, and others.
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are bouncing back after sharp declines yesterday

  • German Dax, +1.8%
  • France’s CAC, +1.9%
  • UKs FTSE 100, +2.5%
  • Spain’s Ibex, +1.7%
  • Italy’s FTSE MIB, +2.0%

In the US debt market, yields have moved higher after declines seen yesterday and flight to safety flows:

Yields

US yields are higher with a flatter yield curve

In the European debt market, yields are also mostly higher.

European yields

European yields are mostly higher

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