Technical Analysis

The GBP is the strongest and the NZD is the weakest as NA trader enter for the day

The USD is mixed 

As North American traders enter for the day, the GBP is the strongest of the major currencies, while the NZD is the weakest. Better employment data boosted the pound. The NZD continued its downward trend started yesterday.  For the NZDUSD it fell back below its 200 hour MA and 50% retracement at 0.6588-0.6591 area. Stay below keeps the sellers in control.  The USD is mixed with the greenback higher vs the NZD, JPY, CHF and AUD and down vs the GBP, CAD and near unchanged vs the EUR.

Looking at the changes and ranges, the USDJPY is trading at session highs as stocks look to open with another solid gain in the US.  The GBPUSD got the boost from the employment data, but has come back off (trading near mid range). The low to high trading ranges are light again with USDCAD at 22 pips (but at the lows), the AUDUSD at 20 pips and the EURUSD at 24 pips (and near unchanged after being up earlier).

The ranges and changes for the major currency pairsIN other markets, the snapshot is showing:
  • Spot gold is down $-7 or -0.53% at $1320.82
  • WTI crude oil futures are up $.60 or 1.13% at $53.85
  • Bitcoin on Coinbase is down $168 at $7778

The pre-market futures for US stocks are implying a higher opening:

  • Dow, +153
  • NASDAQ +68.50
  • S&P +17.47

In European markets, the major indices are also higher:

  • German DAX +1.3%
  • France’s CAC, +0.8%
  • UK’s FTSE, +0.54%
  • Spain’s Ibex, +0.17%
  • Italy’s FTSE MIB, +0.90%

In the US debt market, the yields are higher by a couple of basis points:

US yields are higher in early trading

In the European debt market, the 10 year benchmark yields are mostly lower:

European benchmark yields are mostly lower


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