The GBP is the strongest and the AUD is the weakest as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed ahead of the US CPI data

The GBP is the strongest and the AUD is the weakest as the North American session begins. The US CPI data will be released at 8:30 AM ET (0.4% MoM and 0.3% YoY/4.2% YoY). Ahead of the data, the US stock indices have turned to the downside.  The Nasdaq has been lower over the last 4 sessions. The Dow and the S&P broke their 5 day losing streak yesterday. Apple will debut its new iWatch today. In Washington the House Democrats are proposing a 26.5% top corporate tax rate,  a top individual rate of 39.6%, a 3% surcharge on income over $5M and a Capital gains rate of 25%.  

The USD is mixed ahead of the US CPI data
Looking at other markets, the snapshot is showing:
  • Spot gold is trading down $-8.54 or -0.48% at $1784.52.
  • Spot silver is down $0.23 or -0.97% at $23.50
  • WTI crude oil futures are trading up $0.34 or 0.48% at $70.79
  • The price of Bitcoin is trading up $1065 and $46,039
In the premarket for US stocks, the futures are implying marginally lower levels:
  • Dow futures are implying a -36.6 point to climb. Yesterday the index rose 261.91 points.
  • S&P index is down -4.2 points after rising 10.15 point yesterday
  • NASDAQ is down -22 points after yesterday's -9.91 point decline
In the European equity markets, the major indices are mostly lower:
  • German DAX, -0.15%
  • France's CAC, -0.6%
  • UK's FTSE 100, -0.4%
  • Spain's Ibex, -0.1%
  • Italy's FTSE MIB, +0.14%
Looking at US interest rates, the yields are higher today with the tenure up 1.7 basis points at 1.341%

The US yields are higher
In the European debt market, the benchmark 10 year yields are also trading higher. Francis 10 year yield is up 2.3 basis points which has taken it back into positive territory at 0.021%.

The European yields are higher
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