The GBP is the strongest and the JPY is the weakest as NA trader enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mostly lower

The GBP is continuing the run higher as lawmakers take control from PM Johnson and no-deal Brexit fear dissipate.  The JPY is the weakest as the Pavlovian reaction to US/China deal hopes increases with the willingness to schedule meetings for October.  That also has the CHF lower today as "risk on" flows have traders exiting those currencies.

The USD is mostly lower
In what has been the pattern of late, the GBP pairs are outperfoming their peers in terms of ranges and changes.  Today, the price action did have the currency trade lower before surging back to the upside. The GBPUSD is trading at the highest level since July 29.  In the morning snapshot, the JPY pairs are trading near/at high levels for the day.  

The ranges and changes for the major currency pairs
In other markets:
  • Spot gold is trading down $8.95 or -0.58% at $1543.38
  • WTI crude oil futures are trading up by $0.18 or 0.32% $56.44
in the US premarket for stocks, futures are implying sharply higher openings:
  • Dow, +236 points
  • S&P +24 points
  • NASDAQ +84 points
In the European equity markets, most indices are higher with the exception of the UK FTSE the back of the stronger GBP;
  • German DAX, +0.82%
  • France's CAC, +0.98%
  • UK's FTSE, -0.7%
  • Spains Ibex, +1.2%
  • Italy's FTSE MIB, 0.6%
In the US debt market yields are higher, with gains of 3 to 4 basis points across the curve:

US yields are higher in trading today
In the European debt market, the benchmark 10 year yields are also sharply higher with UK yields up 8 basis points leading the way:

European yields are higher

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