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

Technical Analysis

Author: Greg Michalowski | jpy

TGIF....The USD is higher

As North American traders enter for the day, the JPY is the strongest and the NZD is the weakest.  The USD is higher vs. all the major currencies and just behind the JPY as the strongest of the day. The GBP was stronger earlier but a weaker than expected retail sales (-0.6% versus +0.5% estimate) erased gains.   Nevertheless, the GPB is still marginally higher vs the EUR and the NZD, but lower against the rest of the majors. 

The dollar is stronger in trading today
The ups and downs in the GBP pairs is showing in the GBP bars in the top chart below. The GBP pairs have the largest ranges as well (the lower chart below).  The other major currencies vs the dollar are showing narrow ranges of 37 pips or below. The USDJPY range at 20 pips and the USDCAD range at 24 pips are the lowest of the majors.  The NZDUSD pair (weakest currency is the NZD) is trading at the lows for the day and down -20 pips.  

The ranges and changes for the major currency pairs
In other markets:
  • Spot gold is up $6.30 or 0.41% at $1558.80
  • WTI crude oil futures are trading up $0.22 or 0.38% of $58.74
In the premarket for US stocks, the futures are implying higher openings once again. The major indices all closed at record highs yesterday:
  • Dow, up 54 points
  • S&P index up 6.5 points
  • NASDAQ index up 26.5 points
In the European equity market, the euro stock index is a new record high while the French CAC hit a 12 year high:

  • German DAX, +0.5% 
  • France's CAC, +0.8%
  • UK's FTSE 100, +1%
  • Spain's Ibex, +1.1%
  • Italy's FTSE MIB +0.66%
In the US debt market yields are mixed with the 2 and 5 year lower and the 10 and 30 year both trading marginally higher

US yields are mixed
In the European debt market, the benchmark 10 year yields are lower in trading today:

European yields are lower
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