January 26, 2017. The CHF is the strongest. The JPY is the weakest.
The snapshot of the strongest and weakest currencies as NA traders enter for the day shows the CHF is the strongest, while the JPY is the weakest. The USD is recovered and moved higher in trading today.
The CHF gain is led by a move in the CHFJPY. The pair simply had technical level taken out one by one starting with the 200 hour MA and continuing with the:
- 100 hour MA,
- 100 bar MA on 4 hour and 50% retracement
- 200 bar MA on 4 hour chart
- 61.8% retracement, and
- High from last week
It just got a head of steam from the technical breaks (or so it seems).
The ranges and changes show the JPY pairs are in focus from traders today. The USDJPY, EURJPY, AUDJPY, CHFJPY are all trading near highs with ranges near or above the 22 day average ranges (about a month of trading).
There is stuff on the calendar today in the US but most is so-so data. Weekly initial claims and new home sales highlight the events. Below is a look at the releases on the calendar.
In other markets:
- US stocks are up in pre market trading. Nasdaq futures up about 7 points, S&P futures are now unchanged. Dow futures are up 12 points
- European stocks are up marginally. Dax is up 0.36%, UK FTSE +0.16. France CAC is unchanged
- US yields are up 1-3 bp. 2 year up 1 bp, 5 year up 3 bp, 10 year up 3 bp, 30 year up 2 bp
- Spot Gold is down -$14.00 or 1.17%
- Crude oil futures are up $0.35 or 0.64% to $53.09
