The CAD is stronger and the JPY is weaker as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed

The JPY had been confined in sideways like action. Not today.  The USDJPY (and other JPY pairs) are racing higher and making the JPY the runaway weakest currency of the day. The CAD and NZD are the strongest. The NZDUSD tested its low for the year yesterday and could not break below (it was the weakest of majors). As for the CAD, it fell after weaker manufacturing sales (-0.7% vs +0.7% estimate), but reversed back down.  Today, the USDCAD tumbled further and reached the 100 day MA at 1.3217. There is a small bounce off the level. 

The USD is mixedLooking at the ranges and changes, the USDJPY and the JPY pairs are all trading near highs for the day.  The USDCAD and CAD pairs are also near highs (sans the NZDCAD). The other pairs vs the USD are all within 9 pips of the unchanged levels.

The ranges and changes for the major currency pairs
In other markets:

  • Spot gold is not following the risk on flows. It is trading up him $6.67 or 0.42% $1608.30. The low for the day stalled at $1599.58. The high extended to $1611.32
  • WTI crude oil futures are trading up $0.67 or 1.29% at $52.73
In the premarket for US stocks the futures are implying a higher opening:
  • Dow is up 81 points
  • NASDAQ index is up 47.5 points
  • S&P index is up 9.5 points
in the European equity market, the major indices are also higher:
  • German DAX, +0.48%
  • France's CAC, +0.64%
  • UK FTSE 100, +0.71%
  • Spain's Ibex, +0.64%
  • Italy's FTSE MIB, +0.71% him him him
In the US debt market yields are little changed:

US yields are lower In the European debt market, the benchmark yields are marginally lower:

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