The GBP is the strongest and the NZD is the weakest at the start of the NA session

Technical Analysis

Author: Greg Michalowski | forex

The USD is stronger after yesterday's decline

The GBP is the strongest and the NZD is the weakest as the North American session begins. The USD is higher after yesterday's sharp decline.   Stocks are lower in pre-market trading. US yields are mixed with a slightly flatter curve.  The House will likely vote on impeaching Pres. Trump for the 2nd time with some GOP members saying they will join the Dems in the vote.

The USD is stronger after yesterday's decline
Looking at the ranges and changes, the low to high trading ranges are modest with the EURUSD and NZDUSD leading the way with 62 pips. The others have ranges between 39 pips and 48 pips.  The AUDUSD and NZDUSD are trading near lows. 

The ranges and changes for the major currency pairs
IN other markets:
  • Spot gold is trading down $-1.83 or -0.10% at $1853.04
  • Spot silver is trading 10 $0.32 or -1.27% at $25.23
  • WTI crude oil futures are trading up $0.25 or 0.47% of $53.46. TheDOE inventory data will be released at 10:30 AM with crude oil inventories expected to show a drawdown of -3000K vs the -8010K drawdown last week
  • Bitcoin on Coinbase is trading down $-253 and $34,457.40. The high for the day reached $35,233.27. The low extended to $32,309.04
In the premarket for US stocks, the futures are implying lower levels after yesterdays modest gains:
  • S&P index down -9.5 points. The S&P rose by 0.4% or 1.58 points yesterday
  • Dow industrial average down -42 points. The Dow rose 60 points or 0.19% yesterday
  • NASDAQ index down -39 points.  The NASDAQ rose 36 points or 0.28% yesterday 
In the European equity markets, the major indices are little changed on the day with the German DAX the weakest at -0.24%. The other indices are trading near unchanged
  • German DAX -0.24%
  • France's CAC, unchanged
  • UK's FTSE 100, -0.1%
  • Spain's Ibex, unchanged
  • Italy's FTSE MIB, unchanged
In the US debt market, the yields are mixed with the 2 and 5 year up modestly, while the 10 and 30 year yields are down modestly:

US yields are mixed
In the European benchmark 10 year yields are trading lower with the German 10 year down -2.9 basis points leading the way.  

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