Ups and downs in other pairs but most near unchanged levels
The snapshot of the gainers and losers in the currency market is a unique one today. The biggest movers all have a GBP attached to their currency pair name.
The pounds fall came from comments that EUs Barnier said that a Brexit transition wasn't a given if disagreements persisted. After a day where the BOE signaled that a tightening was closer than most thought, the GBPUSD has moved from a high near the 200 hour MA at 1.4070, to a low near the 200 bar MA on the 4-hour chart at 1.3800. The pounds decline was mirrored in the other GBP pairs.
The snapshot of the ranges shows a similar story. The spikes in the ranges are in the pairs marked with a GBP. The other pairs not only have low trading ranges relative to their 22 day average range (about a month of trading) but are also near the unchanged line for the day.
A snapshot of the other markets today is showing:
- Spot gold down $1.80 or -0.14% at $1317.20
- WTI crude oil futures continue its fall down $.81 or -1.32% at $60.34. The low today reached $60.15. The high so far has extended to $60.77
- US yields are little changed: two-year 2.106%, unchanged. Five-year 2.538%, unchanged. 10 year 2.824%, unchanged. Thirty-year 3.131%, unchanged
- The Dow futures are implying an opening of 71 points. Nasdaq futures are implying an opening of +31 points and the S&P is implying an opening of 12 points. Yesterday, all three closed below their 100 day MAs for the first times since November 2016. S&P 100 day MA is at 2638. Nasdaq 100 day MA is at 6856 area. Dow 100 day MA is at 24080.
- European indices are lower: German Dax is down -1.46%. France's Cac is down -1.4%. Spain's Ibex is down -1.4%. UK FTSE is down -0.87%. Italy's FTSE MIB is down -1.3%
Canada employment at the bottom of the hour, with net change in employment at +10.0K vs an oversized 64.8K. The unemployment rate is expected to stay at 5.8%. The USDCAD is sitting right around its 100 day MA at 1.2612 (trades at 1.2617), and is waiting for the bullish or bearish push from the numbers.