The CAD is the strongest and the CHF is the weakest as NA traders

Technical Analysis

Author: Greg Michalowski | forex

Price activity is limited.

As North American traders enter for the day, the CAD is the strongest and the CHF is the weakest.  The USD is mixed with modest gains and losses spread among the major currencies.   The activity is confined. EU/Germany GDP figures were stagnant but the EURUSD is little changed.

The coronavirus numbers of infected are up over 5000 in China. The number of deaths are up 120. 

Price activity is limited.Below are the rankings of the strongest and weakest ranks for the day. 

The coronavirus cases
The ranges and changes are showing modest price action. The GBPUSD has the largest low to high trading range of 43 pips. It has trading up and down (is nearer the low). The EURUSD is up 4 pips with only a 23 pip range.  The USDJPY only has a 18 pip trading range and like the EURUSD is little changed at +2 pips.  Not a lot of activity in the forex market as the week comes to an end.

The ranges and changes
In other markets:

  • Spot gold is trading near unchanged levels at $1575.40, $-0.60 or -0.04%
  • WTI crude oil futures are trading up $0.77 or 1.52% at $52.19
In the premarket for US stocks the futures are implying a higher opening. Yesterday the major indices fell modestly with the S&P index down -0.16%, the NASDAQ index down -0.41%. The Dow industrial average fared worse with a -0.43% decline.  The snapshot of the market currently shows:
  • Dow, +63 points
  • S&P +10.91 points
  • NASDAQ index +41.3 points
In the equity market major indices are mixed:
  • German DAX, +0.2%
  • France's CAC, -0.1%
  • UK's FTSE 100, unchanged
  • Spain's Ibex, +0.4%
  • Italy's FTSE MIB, unchanged
I him 
n the US debt market yields are mostly lower (down about 2 basis points across curve):

US yields are lower
In the European debt market yields are mixed in the benchmark 10 year yield sector:

European yields are mixed
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