USD is mostly higher
The snapshot of the strongest and weakest currencies as North American traders enter is showing the GBP is the strongest. The NZD is the weakest. The pairs are bunched together though with no clear winner or loser as the price action moves up and down for most currencies.
You can see the relative inactivity in the changes and ranges charts below.
The ranges are very low in relation to their 22-day averages. The EURUSD only has a 22 pip range (vs an 22 day average of 76 pips). The GBPUSD range is only 42 pips (vs a 22 day range of close to 100 pips). The USDJPY ranges is 44 pips (vs average of 65 pips). The better than expected ADP has not made much of an impact.
The FOMC decision is later today. The BLS employment on Friday. And it is still summer. Nevertheless, I would expect that the market will get goosed and extend the ranges at some time this morning.
- Spot gold is trading down -$2.25 or -0.18% at $1222
- WTI crude oil futures are trading down $.96 or -1.41% at $67.77
US stocks are mixed
- The Dow futures are pointing to a -16 point decline
- the S&P futures or near unchanged
- The Nasdaq futures are implying a rise of 23 points after Apples beat after the close. Apple shares are up $8.65 at near $199 per share
