The AUD is the strongest, while the CHF is the weakest as NA traders enter

Technical Analysis

Author: Greg Michalowski | forecx

January 3, 2018

As the NA traders enter for the day, the AUD is the strongest while the CHF is the weakest.  The USD is mostly higher but also near unchanged levels against JPY, CAD, AUD and NZD.  


Looking at the ranges and changes for the day, the activity is a bit limited vs the 22 day average ranges (red line in the lower chart below).   All the pairs are below the average. Pairs like the USDJPY, USDCAD and JPY crosses are well below what would be the average trading ranges. Perhaps we get a move in the US session for those pairs. 

IN other markets, the snapshot shows:
  • Spot gold is down -$3.42 or -0.27%. The price has been up 8 days in row. A little stronger dollar has helped to push the price down a little. The price remains above the $1300 level at $1314.60
  • WTI crude oil is trading higher by $50 at $60.88.  It remains above the important $60 level with the next upside target at around $62.50
  • US yields are lower today. 2 year 1.9152%, down -0.4 bp. 10 year 2.4471%, down -1.6 bp  30 year 2.7902%, down -2.3 bp. 
  • US stock futures in pre-market trading are up.  S&P is up 34 points. Dow Futures are up 47 points and Nasdaq futures are up about 10 points after the oversized gain of over 100 points yesterday. The S&P and Nasdaq closed at record levels yesterday.
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