Technical Analysis

The USD is the strongest while the NZD is the weakest as the NA traders week begins

US Mexico deal boosts greenback

One trading day after the weakest employment report on the year, the USD is leading the way higher as the US/Mexico tariffs have been avoided.  Stocks are higher in pre-market trading. The question is now, can the US and China do the same thing.  It does not seem to be around the corner, but you never know (the US Mexican deal was reportedly agreed to before the tariff threat enacted).  The NZD has been trending lower today, as has the GBP.   The pound suffered from lower GDP data.  

The largest range of the day vs the USD belongs to the GBP at 87 pips. It is tradng near the session lows as werll.  Most of the USD pairs are near session highs vs the greenback.  The USDCAD is close to being unchanged after opening lower and reversing higher. Recall on Friday, not only the US data was weaker but the Canada employment report was stronger. The USDCAD tumbled lower on the news.  Today the USDCAD is taking a break.   

The ranges and changes of the major currency pairs In other markets, a snapshot of the markets is showing:
  • Spot gold is down -$15.00 or -1.11% at $1326
  • WTI crude oil futures are up $0.35 or 0.65% at $54.35
  • Bitcoin on Coinbase is up $300 at $8020

In the European market, stocks indices are also higher. 

  • German DAX, +0.77%
  • France’s CAC, +0.33%
  • UK’s FTSE, +0.62%
  • Spain’s Ibex, +0.63%
  • Italy’s FTSE MIB, +0.41%
US yields have rebounded higher on the increased hope for resolution of trade/tariff issues (and perhaps less Fed easing down the road). The 10 year yield on Friday bottomed near a pretty strong support area in the 2.01%-2.05% area (see post here). It is up to 21379% currently.  
US yields are recovering higherIn Europe, its benchmark 10 year yields are also higher but the German Dax is still well below the 0.0% level at -0.219%.
Europe 10 year yields


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