The CHF is the strongest and the GBP is the weakest as NA traders enter

Technical Analysis

Author: Greg Michalowski | forex

The USD is mostly lower

As NA traders enter for the day, the CHF is the strongest (and is pushing to new highs as I type). The GBP is the weakest as political concerns continue to weigh on that currency.  The USD snapshot is pointing mostly to the downside, with gains only vs the weak GBP and the NZD.

The USD is mostly lower
The GBPUSD range is up near its 22 day average trading range (78 pips) and down -49 pips of that 78 pips .   The EURUSD and USDJPY is back to a narrow trading range at 25 and 27 respectively.  The AUDUSD and NZDUSD is also quite contained at 26 and 17 pips respectively with each trading near unchanged levels on the day. Each were under pressure yesterday after RBA Lowe signalled a June cut may be in the cards.

The ranges and the changes today

In other markets, the snapshot is showing:
  • Spot gold is up $1.68 or 0.13% at $1276.24
  • WTI crude oil is down -$0.65 or -1.05% at $62.48
In the US stock market, the futures are implying a lower opening with:
  • Dow, down -87 points 
  • S&P down -11 points
  • Nasdaq down -47 points
In Europe, shares are also lower with:
  • German Dax -0.55%
  • France's CAC -0.55%
  • UKs FTSE -0.06%
  • Spain's IBex -0.48%
  • Italy's FTSE MIB-0.67%
In the US debt market, yeilds are moving lower as stocks and risk off flows kick in. Yields are near day low levels:

The US yields are trading at the lows
In Europe, yields are lower in Germany, France and UK (-5.7 bps now) and unchanged vs Spain and Portugal and higher vs Italy.

The 10 year yields are mixed in Europe


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