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

Technical Analysis

Author: Greg Michalowski | forex

USD mixed as markets try to recover (or slow the declines)

Although European stocks are still trading in the red, the US markets are trying to have a Turnaround Tuesday after the 1000 point decline in the Dow yesterday.   In the forex, the GBP is the strongest, while the NZD and the AUD decline.  Yesterday, both those currencies rebounded a bit despite the sharp fall in stocks, but each are trying to get off lows.  The USD this morning is mixed with gains vs NZD, AUD and EUR, a bigger decline vs the GBP (-0.29%) and more modest declines vs the JPY, CAD and CHF. 

USD mixed as markets try to recover (or slow the declines)
The ranges and changes are showing the NZDUSD and AUDUSD at session lows after earlier gains failed.  The USDCHF, USDCAD, USDJPY are above and below unchanged but within 7 pips of unchanged. The GBPUSD is higher but near mid-range in the morning snapshot.  

The ranges and changes for the major currency pairs
In other markets:
  • The price of gold has given up some of the gains from yesterday. Currently it is trading at $1649.50 or $-9.70. The high price reached $1664 while the low extended to $1633
  • WTI crude oil futures are trading unchanged at $51.43 after essays sharp decline. The high price reached $52.02
In the premarket for the US stock market the major indices are also recovering:
  • Dow industrial average, +139 points
  • NASDAQ index +72 points
  • S&P index +15 points
In the European stock market, the major indices are still lower on the day:
  • German DAX, -0.34%
  • France's CAC, -0.31%
  • UK's FTSE 100, -0.6%
  • Spain's Ibex, -0.7%
  • Italy's FTSE MIB, -0.10%
In the US debt market, yields are up but only marginally. The 2 year is up 1 basis point while the 10 year is up only 0.3 basis points (trading at 1.374%):

US yields are marginally higher
In the European debt market, the yields are mixed with investors looking more toward the safer countries and Germany, France, and the UK while Spain, Italy, Portugal have seen their benchmark 10 year yield move higher (but marginally):

EuropeanEuropean yields are mixed
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