January 30, 2017. The JPY is the strongest. The EUR is the weakest.

The snapshot of the % changes of the major currencies vs each other shows that the JPY is the strongest. The EUR is the weakest. Stocks are lower today which has led to the flight into the JPY. YoY inflation in the Germany is weaker than expectations. That is no helping the EUR pairs. Technically, the EURUSD - after an early rise that saw the pair move above the 200 and 100 hour MAs - has tumbled back below each of those MA lines (at 1.0714 and 1.0710 - see video from the weekend). The EURUSD has also moved below the 100 bar MA on the 4 hour chart AND the 38.2% of the move up from the January 11 low which are both at the 1.06518 level. That is now close resistance for the pair. Stay below is more bearish for the pair.

The volatility is mixed. Last week after a 117 pip trading range for the entire week in the EURUSD, the range today is 114 pips. Non trending leads to trending. The commodity pairs like the CAD, AUD and NZD are very contained so far with very narrow trading ranges.

Personal income and personal spending will be released at 8:30 AM ET/1330 GMT:

  • PI is est +0.4% vs 0.0% last, and
  • PS is est +0.5% vs. +0.2% last).
  • Real personal spending is expected to rise by +0.3%.
  • PCE deflator MoM (Dec) is est to rise by +0.2%. YoY +1.7% (vs 1.4% last)
  • PCE Core is expected to rise by +0.1%. YoY +1.7% (vs 1.6% last)

Later at 10 AM ET

  • Pending home sales for Dec are expected to rise by 1.1%
  • Dallas Fed Activity Index will be released at 10:30 with the expectations of 15.0 vs 15.5 last.

In other markets. the snapshot shows:

  • Gold +$0.60 roe +0.7% to 1192
  • Crude oil futures $53.12. -$0.05 or -0.02%
  • US bonds are mostly higher with the long end up the most. 30 year is up 2.4 bp. 10 year yield is up 0.7 bp. The 2 year is unchanged
  • US stocks are lower in pre-market trading: Nasdaq futures -21 points. S&P -8.75 points. Dow futures -65 points