The NZD is the strongest. The AUD is the weakest.
As the NA traders enter for the trading day, the NZD is the strongest. The AUD is the weakest.
The USD is little changed against most currencies in our morning snapshot (see chart below). The USDCAD is down about 35 pips. Crude oil is up a bit at $36.53. Crude oil traded below $35 yesterday but rebounded. The NZDUSD is up 38 pips but off the highs. The other major currency pairs are plus or minus 15 pips from yesterday's close.
US CPI due at 8:30 AM (great preview here by Adam) along with Can Manufacturing sales. At 10 AM there is NAHB Housing market index. The Global Dairy Trade Price index will be released this morning as well. Bank of Canada Poloz will speak. The market is gearing up for the FOMC tomorrow. It has been waiting now for over 9 years for this day....well most of that time was not waiting for the moment but you know what I mean....
