As London/European traders exit for the day, the USD is the strongest of the major currencies, while the NZD and JPY are the weakest.
The USD is higher against all the major pairs vs. the close from yesterday, although the gains against the EUR and CHF are minimal. The AUD and NZD are grouped together as currencies that were once the darlings but went too far and are seeing the corrective action. The RBA statement last night was not necessarily anything entirely new, but the pair dipped below some technical levels, and sellers entered. The NZD has had an up and down day vs. some currencies (ie. GBPNZD in particular) but is down vs. all currencies now.
Overall, it was a good start to the post-summer market. Let’s hope for more days like this to come.
The Forex Winner and Losers as London exits
The European and US stock markets are mixed. In the US, the Nasdaq is up but the S&P and Dow are down. In Europe, the French CAC is down but the other major indices have eked out small gains for the day. However, they also closed near the bottom of their trading ranges for the day. So although up on the day, I would not characterize the day as being “great”.
Point and % change of US and European stock markets
