The AUD is the strongest. The GBP is the weakest.
The currencies today are pretty munch bunched up with one exception - the GBP. The GBP was hit after Industrial Production for November came in much weaker than expected at -0.7% vs 0.0% estimate (YoY +0.9% vs +1.7% est.). Manufacturing production was also weaker at -0.1% vs. +0.1% estimate (YoY -1.2% vs -0.8%). Any currency vs. the GBP is gaining today (and the biggest % gainer too).
Looking at the ranges for the day, the EURUSD range is a bit light vs the 22-day average of 100 pips. The other major currency pairs are also below their averages. This could mean there is room to roam (i.e., there is potential for an expansion of the trading range). Which way are the technicals pushing the pair? Is there a level you can lean against to define and limit your risk?
The equity markets are higher on the day with the European markets up 1.5% to 2.5% (Dax is up that). The Shanghai index was up 0.2%. The pre-US indices the S&P futures are up about 20 points, and the Nasdaq futures are up about 50 points at the moment.
The JOLTS Job openings report will be released at 10 AM with the IBD/TIPP economic optimism. Lacker speaks later today (3:15 PM ET.)
