The CHF is the strongest and the GBP is the weakest

Technical Analysis

Author: Greg Michalowski | forex

The GBPUSD and USDJPY are the only currencies moving

As the North American week begins after the so-so employment report, the CHF is the strongest and the GBP is the weakest. Really the CHF, EUR, AUD, NZD and CAD are all near the top of the table today, while the GBP is the runaway weakest.  The chances for a cut in the UK are increasing which is helping to weaken the pound.
The GBPUSD and USDJPY are the only currencies moving

Looking at the ranges and changes apart from the GBPUSD and the USDJPY, the other pairs vs the USD are all withing 7 pips of being unchanged on the day.   The GBPUSD is down -89 pips. The USDJPY is up 42 pips.  That combination does have the JPY crosses higher with the exception of the GBPJPY which is lower. The GBPCHF is also trending lower.   Think GBP today.  

The ranges and changes
Looking at other markets, the snapshot is showing:
  • spot gold is trading down $8.10 or -0.53% at $1554.20
  • WTI crude oil futures are trading up $0.08 or 0.14% at $59.12
US stocks are off to a good start for the week as earnings season gets underway with J.P. Morgan and Citibank reporting their earnings tomorrow morning:
  • Dow industrial average is up 100 points
  • NASDAQ index is up 40 points
  • S&P index is up 11 points
in the European equity market, the markets are mixed
  • German DAX, unchanged
  • France's CAC, +0.15%
  • UK's FTSE, +0.3%
  • Spain's Ibex, -0.25%
  • Italy's FTSE MIB, -0.3%
In the US debt market yields are higher, with the yield curve steepening by about 1 basis point (2 – 10 year spread

US yields are higher
In the European debt market, the benchmark 10 year yields are mostly higher with the exception of the UK at -3.8 basis points:

European yields are mostly higher
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