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 and the NZD is the weakest.  The USD is mixed with a modest negative bias. The greenback is stronger vs the NZD and AUD and weaker vs the CHF, JPY, GBP and CAD.  The dollar is near unchanged vs the EUR in choppy up and down trading.  The USDCHF was a big mover (CHF weaker )yesterday as it ran and ran and ran to the upside. Today we are seeing a rotation to the downside.   For the NZDUSD, it held resistance on a test of its 100/200 hour MAs in the Asian session and rotated lower in the London/European morning session (trading near lows now).  

The USD is mixed
The ranges and changes are showing mixed signals. The ranges for the day are relatively low with the USDJPY, USCAD very modest at 38 and 35 pips respectively.  The GBPUSD has traded down and snapped back higher in making up it's 85 pip range.   The USDCHF spent most of the time today below the unchanged line and the NZDUSD is also at session lows.    

The ranges and changes for the major currency pairs
IN other markets:
  • Spot gold is trading up $10.16 or 0.52% at $1939.24
  • Spot silver is trading up $0.40 or 1.5% at $27.09
  • WTI crude oil futures are down $0.40 or -0.93% at $42.53
In the premarket for US stocks the major indices are mostly lower. The Nasdaq is modestly higher while the S&P and Dow are lower.  The airlines are getting hit on concerns about additional funding for the government.  

  • Dow industrial average -124 points
  • S&P index -12.6 points
  • NASDAQ index +2.61 points
In the European market,, the major indices are down sharply:
  • Germany's DAX index -1.31%
  • France's CAC -1.3%
  • UK's FTSE 100, -1.4%
  • Spain's Ibex, -1.28%
  • Italy's FTSE MIB, -1.2%
In the US debt market, yields are moving to the downside with the yield curve flattening once again

US yields are lower with the yield curve flattening

In the European debt market, the benchmark 10 year yields are also trending to the downside with the German yield down -3.3 basis points:

European yields are lower

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