December 16, 2016. The GBP is the strongest. The NZD is the weakest.

As NA traders enter for Friday trading, the GBP is the strongest currency, while the NZD is the weakest. The CBI trends data was stronger in the UK today. The USD is mixed with gains against the CAD, AUD and NZD and down against the EUR, and GBP. It is trading near unchanged levels vs. the JPY and CHF. The USD had a string of two consecutive up days against all the major currency pairs, taking it to the highest level in nearly 14 years.

The volatility has died down today as the clock ticks toward the end of the week. All of the major pairs and crosses are trading below their 22 day average trading ranges. It IS Friday. The US calendar is light with housing starts and building permits due at 8:30 AM ET (HS est 1230K vs 1323K last and BP 1240K estimate vs 1260K last). Fed's Lacker is due to speak at 12:30 PM ET/1730 GMT. Baker Hughes rig count and the CBOT Commitment of traders report will be released in the US afternoon. In Canada, the International Securities Transactions will be out at 8:30 AM ET (last month 11.77B)

The US stocks are up in pre-market trading with the S&P futures up 4 points, the Dow futures up 39 points and the Nasdaq futures up about 9 points.European stocks are higher with the Dax up 0.33%. The Cac up 0.38%, the UK FTSE up 0.20%.

US yields are lower with the 2 year down 1.7 BP and the 10 year down 3.1 BP. EUropean yields are lower too with Germany down 5.8 bp, France down 3 bp, UK down 4.4 bp. Italy yields are higher by 3.4 bp