The strongest and weakest as NA traders enter on September 8th
The USD continued its fall today as it stumbles against all the major currency pairs. As North American traders enter the greenback is trading against extremes against the GBP and JPY. The GBPUSD trades at the highest level since August 3rd. The high for comes in at 1.3267 (highest level since September 2016). For the USDJPY it now trades at the lowest level since November 2016.
For the NZD, the NZDUSD started its rise early - breaking above trend line resistance and has continued to race higher. The pair has run into resistance against the swing highs from August 17 to August 22nd (see chart below).
The volatility is fairly high today.There are a number of pairs that have reached and breached their 22 day averages including the GBPUSD, USDJPY, USDCHF, AUDUSD, and NZDUSD. JPY cross pairs are also on the move. I will need to check on that GBPNZD spike.
Anyway overall, the volatility is high coming into the NY session.
In other markets, the snapshot shows:
- Spot gold up $2.76 or +0.20% to $1352.02. THe high reached $1357.64.
- WTI cruded is little change for the 2nd consecutive day. It trades around $49.
- US yields are trading around unchanged levels. The 10 year traded to 2.0144% today (new lows since November).
- The US pre-market stocks are trading lower. The S&P futures are down -7 points. Nasdaq futures are down -13.5 points. Dow futures are down -74 points.
- Equifax is under pressure as their databases were breached. Great....Just great. Hurricane Irma watch continues. Fed's Harker speaks on consumer finance (now that credit information has been breached). Wholesale inventories will be released at 10 AM ET/1400 GMT
Canada has the stage today as they release employment data at 8:30 AM ET/1230 GMT
