There is not a lot of movement in the major pairs at the start of the NY session
The EUR is the strongest while the USD is the weakest as NA traders enter for the day. However, the major currencies are bunched together. Not much separating the strongest from the weakest.
The quiet start to the week is evident in the changes and ranges. The EURUSD is the farthest from the Friday close at 30 pips. The GBPUSD has the largest range of 45 pips. The USDCHF, USDCAD, AUDUSD and NZDUSD are mired in ranges that are less than 25 pips (and are all within 13 pips of the Friday close).
The USDJPY did move lower in the Asian session and fell below its 100 hour MA at 111.503 currently. It corrected up to that level in the London session and found sellers.
In other markets:
- Spot gold is up $6.50 or 0.51% at $1298.13
- WTI crude oil is up $0.27 or +0.43% at $63.35
The US stock futures are implying a lower opening:
- Dow, -109 points
- S&P, -3 points
- Nasdaq- -7 points.
In the Europe, the major stock indices are mixed
- German Dax, -0.25%
- France's CAC, +0.4%
- UK's FTSE+0.02%
- Spain's Ibex, -0.64%
- Italy's FTSE MIB, -0.01%
In the US debt market, yields are marginally higher with the 30 year up the most at 1 bps.
In the benchmark 10 year notes, the yields are marginally lower in the early snapshot.
