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 mostly stronger

As North American traders enter for the day, the GBP is the strongest and the NZD is the weakest.  The warning by Apple is weighing on the markets as coronavirus fears weigh on the NZD and AUD. In the UK the employment data was better than expectations and is helping the GBP pairs. The USD is mixed but mostly higher with the bigger gains vs the NZD and AUD.

The USD is mostly stronger
The ranges and changes are showing the GBP pair having the best price action. The AUDUSD and NZDUSD are both near session lows and their 22 day average trading ranges indicative of trend like price action.   The EURUSD, USDJPY and USDCHF are lagging in action with each under 25 pips at the morning snapshot. 

The ranges and changes for the major currency pairs
In other markets,

  • Spot gold is trading up $5.60 or +0.35% at $1586.70
  • WTI crude oil is down -$1.10 or or -$2.11 at $50.95
In the pre-market for the US stocks, the futures are implying a lower opening as virus fears hit stocks.

  • The Dow is down -153 points
  • The S&P is down 13.5 points
  • The Nasdaq is down -59.5 points
  • Apple is trading down about $8 or -2.4%
In the European equity markets, the major indices are also low trading lower
  • German DAX, -0.78%
  • France's CAC, -0.48%
  • UK's FTSE 100 -0.87%
  • Spain's Ibex index -0.20%
  • Italy's FTSE MIB is bucking that trend with a gain of the +0.1%
In the US debt market, the yields are trading lower on the fears and flight to safety to treasuries.

The USD yields are lower

In the European debt market, the yields are mostly lower as well with varying degrees.  The Italian yields are up 0.1%.

The European yields are lower

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