November 17, 2017. THe USD is higher vs. the AUD and NZD.

The snapshot of the strongest and weakest currencies shows that the JPY is the strongest (the gains coming in the Asian session), while the NZD continues its slide and is the weakest (an early Asian rise, led to a tumble lower). The AUD is also getting hit today. The USD is up against both those currencies (NZD and AUD) but lower or unchanged vs. the rest of the majors.

Looking at the changes and ranges the GBPNZD is on a run but also of the extreme highs. The GBPUSD is trading back at the lows (and near unchanged) after rising earlier in the day. AUD and NZD ranges are all above their 22-day averages (month of trading). That is where the action has been focused in trading today.

In the NZDUSD the price cracked below the 2017 double bottom at 0.6817 and trades at the lowest level since May 2016. That has been one of the catalysts for selling in that currency. For the AUDUSD, after toying with a trend line on the daily chart, that pair made a run for it (after testing a ceiling area earlier in the day (see chart below).

A snapshot of the markets shows:

  • Spot Gold up $3.59 or +0.28% at $1282.33
  • WTI crude oil +0.85 to $56.00
  • US yields are a bit lower. 2 year 1.717%, up 0.9 bp. 5 year 2.067%, down -0.3 bp. 10 year 2.365%, down 1 bp. 30 year 2.813%, down -1.4 bp
  • In premarket stock trading in the US; S&P down -0.50 points. Dow futures down -17 points. Nasdaq futures up 4.5 points
  • 10 year Euro notes are trading around unchanged levels
  • European stocks are mixed. German Dax +0.1%. France CAC up 0.1%. UK FTSE unch. Spain -0.3%. Italy -0.2%.