March 2, 2017. The USD is the strongest. The AUD is the weakest.
As North American traders enter for the day, the snapshot of the strongest and weakest currencies shows that the US dollar is the strongest currency while the Australian dollar is the weakest.
US rates are up a basis point or two. Stocks are little changed in pre-market trading. Feds Brainard said last night that it was appropriate for the Fed to tighten soon. This is despite lower GDP estimates for the 1st quarter. A CNBC survey of economists now have the 1st quarter tracking 1.7%.
The AUDUSD is the big mover with the pair trading near the lowest levels of the day (down 1.0%). IN the process, the pair has broken outside the box (low at 0.7607) that has confined most of the trading since early Feb.
There has been extensions above the 0.77000 level, with each having limited success. The lower extreme has been left alone. At the end of the day yesterday, the 100 and 200 hour MAs were tested. Sellers leaned against the area, and we have seen an acceleration lower in the London morning session to the lows. PS Gold is down about 0.72% or $9.00. Silver and copper are also lower.
The changed and ranges are showing that most of the pairs against the dollar are showing below average trading ranges (22 day ranges). The exception is the AUDUSD. The NZDUSD is also near extreme levels.
