April 7, 2016: The strongest is the JPY. The weakest is the AUD
The JPY is the strongest currency today (by far - it isnt' even close). The weakest currency is the AUD. The JPY has continued its advance vs all the major currency pairs the day after the USDJPY broke and stayed below the 110.00 level. The market has lost faith in the BOJ ability to jawbone the currency lower. Stocks are also lower which is leading to the Pavlovian reaction to sell all that has a JPY name attached to it. The AUDJPY is the weakest of the pairs falling by 2.16% on the day.
Speaking of the AUD, it is down 1.2% or more against all the major currency pair and like the JPY - is the runaway leader - to the downside today. AIG construction data was weaker, but lower stocks and a move out of risk may have been the major contributor. The AUDUSD rallied yesterday. It has given up all those gains in trading today.
The USD is mixed today - down sharply against the JPY, up against the AUD and a little higher against other commodity currencies like the CAD and NZD.
At 8:30 AM the weekly unemployment claims will be released with expectations for 271K vs. 276K. at 5:30 PM ET/2130 GMT, fed chair Yellen is due to participate in a panel discussion at the International House in New York. Consumer credit will also be released at 3 PM ET. In Canada today building permits for the month of February are expected to rise by 4.0% vs. -9.8% last month.
Below is a look at the trading ranges and changes.
