Dollar weaker since the opening (especially against commodity currencies). Stocks and bond treading water.
A snapshot of the currency markets shows that the dollar is a bit lower since the NA opening.
- The USDCAD which was up 0.18% at the start of the day, is now down -0.33%. Technical support was taken out in the process (see post here). Crude oil's rebound, has helped the CAD. The price is below the 100 hour MA for the first time (on a closing basis) since April 24 (at 1.37166). The 200 hour MA at 1.3665 is a target below (have not been below that MA since April 18th)
- The NZD which was the strongest currency at the start of the day, has gotten even stronger. The USD was down -0.25% at the start of the day. It is now down -0.64%. The NZDUSD moved above the 100 and 200 hour MAs at the 0.6897-0.6900 area. Stay above is more bullish. The price tested the 38.2% at 0.6920 and that has stalled the rise.
- The dollar was up by 0.27% vs the AUD at the start. It has given all those gains back and is back to unchanged on the day.
- Against the EURUSD, the dollar has moved back to unchanged after being up 0.24% at the start. The pair tested the 1.1000 level at the peak.
- The USDJPY has moved up to test a topside trend line. That trend line broke yesterday but has reestablished the line as resistance today.
In other markets:
- Crude oil is up about $0.50 ore 0.99% at $46.03. The low went all the way to $43.76. The high reached $46.68
- Spot gold is trading unchanged at $1228.14. The high reached 1235. the low 1226.
- US stocks have the S&P up 2.14 points or 0.09%. The Nasdaq is up about 4 points at 6079.40. The high reached 6092. The low 6067.
- US bond yields are trading unchanged to +1 bp in quiet trading.
