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

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed 

As North American traders enter for the day the GBP is the strongest and the NZD is the weakest. The GBP got help after the GBPUSD stalled just above its 100 hour MA in the Asian session. The USD is mixed with gains vs NZD, AUD and CHF and declines vs the GBP, JPY and CAD.  The EURUSD is unchanged at the start of the session.

The USD is mixed 
The ranges and changes are showing the most action in the GBP and the JPY pairs (67 and 59 pips respectively).  Meanwhile the EURUSD is hardly budged with an 18 pip trading range through the Asian and 1/2 of the European session (there is room to roam).  The GBPJPY was lower earlier but has clawed back the declines thanks to a rising GBPUSD.  The EURJPY is lower and near lows for the day. The EURGBP is also near session lows. 

The ranges and changes the major currencies today
In other markets, the snapshot is showing:
  • spot gold, plus $5.25 or 0.34% at $1532.34
  • WTI crude oil futures +$0.62 or 1.19% of $54.28
In the premarket for US equities, the major indices are higher after trading lower earlier:
  • S&P index +9.5 points
  • NASDAQ index +31.48 points
  • Dow industrial average up 88 points
In the European stock market, major indices are mostly higher:
  • German DAX, +0.6%
  • France's CAC, +0.37%
  • UK's FTSE, -0.08%
  • Spains Ibex, +0.8%
  • Italy's FTSE MIB, +1.28%
In the US debt market yields are trading lower with the 2 – 10 yield curve further in the red at -1.88 basis points (it closed negative as well). The 3 month bill to 10 yield is most inverted since March 2007. 

The US yields are lower with the yield curve inverting even more
European yields are mostly lower with Italian yields showing the largest decline while UK yields are higher.

European yields are mostly lower as well

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