GBP is the strongest. EUR is the weakest.
Today is a semi-holiday in US with federal offices shut down in honor the men and women Veterans of war. To those who served, a sincere thank you. You, and those that died, are not forgotten.
What does it mean for the markets. Well, the bond market is closed but the stock markets are open. Of course the currency markets never sleep and commodity markets are also open. There are no economic releases out of the US today, but ECBs Draghi speaks at 8:15 AM ET (due to speak at the Bank of England's Open Forum 2015)
The strongest currency as the NA session begins is the GBP while the weakest is the EUR. The GBP benefited the most against the EUR as the EURGBP continues it's steps down since peaking on Friday. Next target is the low from Nov 5th at 0.70413. UK employment statistics were good although wages were a miss at 3.0% vs 3.2% exp. The market recovered and traded GBPUSD toward 1.5200 (high 1.5193) but the price is back down to the mid 70s as I type.
The chart below shows that volatility is down with all the major currency pairs and cross currency pairs trading a good distance from what are their average trading ranges. Room to roam or semi holiday trading. We will see what type of action Mr Draghi might generate.
