The JPY is the strongest and the GBP 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 JPY is the strongest as it continues its move higher (it was near the top of the currency rank table yesterday too). The GBP is the weakest.  Today the ADP employment change is expected to show a huge decline of -21 million versus -27,000 last month.  It is hard to type that number. 
 
The USD is mixed

The ranges and changes are showing flows out of the GBP currencies. The JPY crosses are alll trading lower and near session lows.  The USD is mixed with gains vs the EUR, GBP, CHF and CAD and declines vs teh JPY, AUD and near unchanged (+3 pips) vs the NZD. 

The ranges and changes for the major currency pairs
In other markets
  • spot gold is trading down $4.80 or -0.27% at $1701.15
  • WTI crude oil futures are down $0.45 or -1.83% at $24.11 after rising over 20% in trading yesterday. The high price today reached 2608 before moving back to the downside. The low has reached $24.01. The July contract is trading down $0.38 or -1.43% at $26.11

The premarket for US stocks are implying a higher opening with the:
  • Dow is up 130 points
  • S&P up 14.81 points
  • NASDAQ index up 67 points

In the European equity markets, the major indices are mixed with the UK FTSE 100 outperforming on the back of the weaker GBP:
  • German DAX, -0.3%
  • France's CAC, -0.3%
  • UK's FTSE 100, +0.5%
  • Spain's Ibex, unchanged
  • Italy's FTSE MIB, +0.1%
In the US debt market, yields are marginally higher with the 2-10 year spread widening to 49.5 basis points from 47.37 basis points at the close yesterday.

US yields are higher
In the European debt market, yields are higher across the board with Germany and France leading the way to the upside.

European yields are higher
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