The USD is mixed. The pairs are all scrunched together
The EUR is the strongest. While the CHF is the weakest as the NA traders begint the week. However, take note that all the pairs are scrunched togerher and not far from the Friday closes. and most of the pair have had up and down (or down and up) days.
Yoiu can see the lack of volatility in the charte below. The ranges (lower chart) shows that apart from the GBPUSD, the ranges for the major pairs are all less than 43 pips. The top chart below, shows how the pairs vs. the USD are all within 12 pips of the unchanged line.
There is room to roam. Of course, the retail sales will be released for January with the advance estimate forecast to be unchnaged after the sharp -1.2% number in December. Recall the retail sales report shocked the market last month. At the time it was touted that the report is typically the most revised number. We will see at 8:30 AM ET/12:30 GMT.
- Ex auto 0.3% est
- Ex auto and gas, +0.6% est
- Control group, +0.6%
US business inventories will be released at 10 AM ET/1400 GMT with est of 0.6% vs -0.1% last month.
The Pres. budget will be released with more "wall" money asked for in his budget. Of course, there will be lots of opposition from the Democratic House which would make passing difficult. It is the start of what is a process.
In other markets:
- Spot gold is down --$3.34 or -0.26% at $1295.06
- WTI crude oil is up $0.36 or 0.62% at $56.42
GBP pairs are moving up as I type and trade to a new session high.
The US stock futures are implying a mixed opening. Boeing is leading the move lower after the plane crash over the weekend killed at 157 people on board. That is dragging down the Dow. Boeing shares are down -9.36%. It was the 2nd crash for popular 737 Max 8 plane. China ordered all Chinese airlines to temporarily groung their Boeing 737 Max 8 planes
- Dow -143 points
- S&P is up 6 points
- Nasdaq is up 25 points
In the US debt market, yields are higher.
The benchmark European 10 year yields are mixed, with investors shunning Spain.
