The New Zealand Dollar (NZD) showed strength at the start of today’s North American trading session, while the British Pound (GBP) lagged. The U.S Dollar (USD) was mixed against its currency counterparts, with the USDJPY rallying on the back of the Federal Open Market Committee’s (FOMC) decision.
China’s economic situation remains challenging, with deflation persisting due to falling consumer price index (CPI) and producer price index (PPI) inflation in October. This comes amid weak retail spending and a deteriorating manufacturing sector in the country.
In commodities, a rise in U.S. crude oil inventories weighed on oil prices, with crude trading at $75.98. Precious metals saw a decline with gold and silver prices falling to $1945.52 and $22.51 respectively. Meanwhile, bitcoin reached its highest level since May 4th, trading at $36,890.
In the equity markets, the NASDAQ and S&P extended their winning streaks. European equity markets posted marginal gains, while Asia-Pacific indices were mostly lower.
In the bond market, U.S. yields rose in anticipation of a 30-year Treasury auction scheduled for 1 p.m. ET today. This was accompanied by higher 10-year benchmark yields in the European debt market.
