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

Technical Analysis

Author: Greg Michalowski | forex

The USD is mostly lower

As the North American session begins the GBP is the strongest and the CAD is the weakest of the major currencies. The USD is mostly lower in early NY trading with declines vs the GBP, JPY, and NZD and more modest decllines vs the EUR, CHF and AUD. The USD is higher vs the CAD. The GBPUSD tried to move back below the 100 day MA at 1.3682 area but failed. The price is currently trading above its 100 hour MA at 1.3756.  The US stocks are lower in pre-market trading. The US yields are modestly mixed. This week, there are 3 and 10 year note auctions at 11:30 AM ET and 1 PM ET respectively.  The 30 year bond auction will be tomorrow at 1 PM ET. This week, the US earnings calendar will get going with banks leading the way (JP Morgan, Citicorp, etc). US CPI will be a key released tomorrow and retail sales will be released on Thursday.

The USD is mostly lower
The ranges and changes are showing 100 pip range in the GBPUSD. The GBP pairs are generally outperforming other currencies with the GBP pairs near high extremes to start the NY session. The JPY crosses are all lower with the exception of the GBPJPY which erased earlier declines.  

The ranges and changes for the major currency pairs
In other markets: 
  • Spot gold is trading down -$0.77 or -0.51% at $1743
  • Spot Silver is down -$0.06 or -0.26% at$25.19
  • WTI crude oil is trading up $0.79 or 1.33% at $60.11
  • Bitcoin is back above the $60,000 level. It currently trades up $555 or 0.93% at $60,235
the snapshot of the US stock market futures are implying lower openings for the major indices after record closes in the S&P and the Dow industrial average Friday
  • Dow, -54 points
  • S&P -7 points
  • NASDAQ -44 points
The European equity markets, the major indices are trading mixed:
  • German Dax +0.1%
  • France's CAC + 0.1%
  • UK's FTSE 100 -0.3%
  • Spain's Ibex, -0.3%
  • Italy's FTSE MIB +0.4%
in the US that market, yields are trading higher ahead of the three and 10 year auctions later today:

US yields are higher
In the European debt market, the benchmark 10 year yields are mostly higher:

European yields are mostly higher

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