February 10, 2016: The AUD is the strongest. The EUR is the weakest.
The European stock markets are higher in trading today and so are the US indices pre-market (means nothing but they are). The S&P futures are up 20. The Nasdaq is up 56 points. Gold is down to 1184 after flirting with 1200 yesterday.
As a result we are seeing a mild reversal of sort in the strongest and weakest currencies as North American traders enter for the day. The AUD and GBP are at the head of the table. The EUR and CHF (which were big performers yesterday) are the dogs for the day.
Having said all that the landscape can change in an instant as Fed Chair Yellen is set to testify on Capitol Hill (I don't know what it is but I always have to look up Capitol or Capital - it is one of those words) at 10 AM. For a very good preview (and hilarious Yellen photo - Hiike? That is what the market will be trying to interpret from her words) from Ryan CLICK HERE. Also note that ranges are narrow so far today. So what we see, may not be what we get. However, this is how the day has gone so far.
Also of note in today's trading will be the oil inventory data due out at 10:30 AM ET.
PS cable making new highs as I type as EURGBP makes new lows and tests it's 100 hour MA.
PSS. Yellens prepared remarks will be released at 8:30 AM ET (1330 GMT) even though she starts at 10 AM ET.
