US stocks open the week in the red

Technical Analysis

Modest declines for the major indices at the start of the trading week

The US stocks are opening the week in the red. The snapshot is showing:

  • S&P index, -7.6 points or -0.26% at 2944.25
  • NASDAQ index -20 points or -0.23% at 7961
  • Dow industrial average -71 points or -0.27% at 29492

in the US debt market yields are higher with the 2 year up the most by 3 basis points. The 10 year is up 1.4 basis points. The 2-10 year spread is down to 10.9 basis points from 12.54 basis points at the close on Friday (flatter yield curve).

  • Spot gold is down $6 or -0.40% at $1498.40
  • WTI crude oil futures are up $0.56 or 1.06% at $53.36

The CAD has taken over the top spot for the strongest currency (the CHF was the strongest at the start of the New York session). The NZD and the AUD has switch spots as the weakest currency today (the NZD is now the weakest). THe USD remains mostly stronger but is marginally lower versus the CAD, CHF and EUR.  Most of the gains are versus the AUD and NZD today. 

The CAD is the strongest while the NZD is the weakest now

ForexLive

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