The AUD is the strongest and the JPY is the weakest as NA trader enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed to start the trading week (and earnings week).

The AUD is the strongest and the JPY is the weakest as there is some modest risk on flows to start the week. The US and European shares are higher (US in pre-market trading) despite record cases announced in Florida on Friday and higher hospitalizations in Texas.   The WHO announced record case levels.   This week starts the earnings week with Citi, JPM, Bank of America, Wells Fargo and Goldman Sachs all scheduled to report.  

The USD is mixed to start the trading week (and earnings week).
The ranges and changes are showing EURUSD trading near highs and the GBPUSD trading near lows. That means the EURGBP is on the move and indeed it is trading near its highs and up 40 pips at the moment.  The last few weeks has seen the EURGBP move lower. Today is the start of the correction (PS the 200 hour MA is at 0.9000. THe high reached 0.8997 so far today.  The JPY crosses are higher. The EURJPY is leading the way (up 57 pips). The high to low ranges are mixed.

The ranges and changes

In other markets:
  • Spot gold is not following risk on protocol but flight to safety flows. The prices up around $10 or 0.56% at $1808.75
  • WTI crude oil futures are also a bit hesitant to call the top of the coronavirus problems and is trading down $0.51 or -1.26% at $40.04
In the premarket for US stocks the futures are implying a higher opening
  • Dow futures are implying a rise of 202 points
  • S&P futures are implying a rise of 24 points
  • NASDAQ index futures are implying rise of 112 points
In the European stock markets the major indices are trading higher
  • German DAX, +1.12%
  • France's CAC, +1.35%
  • UK's FTSE 100, +1.17%
  • Spain's Ibex, +1.2%
  • Italy's FTSE MIB, +0.2%
In the US debt market, yields are continuing to little changed with the yield curve steepening a small amount:

US yields are higher the yield curve up a smidge
In the European debt market, the benchmark 10 year yields are trading higher with the German 10 year up 3.9 basis points:

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