The CHF is the strongest and the NZD is the weakest as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed

As North American traders enter for the day, the CHF is the strongest. The NZD is the weakest currency and the USD is mixed.  Today the Fed chair will be testifying at 10 AM ET. The contents of his testimony will be released at 8:30 AM ET.  The Bank of Canada will also announce their current interest rate decision. They are expected to keep rates unchanged at 1.75%. The FOMC meeting minutes from their last meeting will be released at 2 PM ET. 

The USD is mixed
The rangess and changes are confined with ranges below their 22 day averages. The GBPUSD is trading mid range with action lower and then back higher.  The USDCHF has seen action mostly to the downside today, but has found some support buying near its 100 hour MA at 0.9907. 

The ranges and changes of the major currencies
In other markets:
  • Spot gold is down -$3.60 or -0.25% at $1394.50
  • WTI crude oil is up $1.27 or 2.21% at $59.11. The private inventory data saw a huge draw in the data last night (-8.129M draw).  The DOE will release their numbers at 10:30 AM ET
  • Bitcoin on Coinbase is up $660 T $13057. The high extended up to $13161.47. The low reached $12382
US futures are implying lower levels in pre-market trading:
  • Dow -62.49 points
  • S&P-8.63 points
  • Nasdaq -21.86 points
In the US debt market, yields are higher with the longer end up the most. Below is a snapshot of the ranges and change for the spots on the yield curve. The US will auction 10 year notes at 1 PM today:

The US yields are higher
In Europe, the yields are higher as well. France yields are just above the 0.0% level again (and up 6.2 bps). 

the 10 year benchmark yield
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