The CAD is the strongest, while the GBP is the weakest at the NA

Technical Analysis

Author: Greg Michalowski | forex

USD marginally higher

The CAD is the strongest currency of the majors and the GBP is the weakest as NA traders enter for the day.  The USD is marginally higher. The major currencies are relatively scrunched together suggesting the market is mostly rangy. 


The ranges are suggesting the lack of volatility today with the GBPUSDs 58 pips the best of the majors. The EURUSD only has managed at 38 pip range so far. The AUDUSD and NZDUSD have only traded in a 22-24 pip range. There is room to roam. It is a Friday, but the week's volatility in the stock market keeps traders on edge. 


In other markets, a snapshot shows:
  • Spot golds is down -$1.70 after the sharp >$25 gain yesterday
  • WTI crude oil is up $0.68 or 0.97% at $71.67.  Crude has been hit with the stock markets fall
In the pre-market for US stocks, the major indices are sharply higher:
  • Dow futures imply 379 point gain
  • S&P futures imply a 42 point gain
  • Nasdaq futures imply a 159 point rise
US yields marginally higher:


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