The JPY is the strongest while the CHF is the weakest as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed in early North American trading

As North American traders start their Tuesday, the snap shot of the strongest and weakest currencies are showing the JPY is the strongest. The CHF is the weakest continueing it's trend after SNBs Jordan said over the weekend that the SNB "sees no reason to change rates, but has room to cut or intervene". The USD is mixed with small-ish changes vs the major currencies (the USDCHF as the largest mover at 0.16%, followed by a 0.10% move in the USDJPY).

The USD is mixed in early North American trading
The changes and ranges charts are showing the biggest move away from the close yesterday is the USDCHF which is higher by 16 pips. The USDJPY is down by -11 pips. The other pairs are within 6 pips of unchanged (that is not a lot of price action to trade on).   Ranges of the major pairs are also limited to 36 pips or less.  UGH.  THe good news is there is room to roam and extend the narrow ranges.

The ranges and changes are showing limited price action
A snapshot of other markets at the start of the NA day shows:
  • Spot gold, $-3.29 or -0.26% at $1284.75
  • WTi crude oil, plus $.33 or 0.52% at $63.73

US stocks are higher spurred by gains overseas and better earnings (J&J beat and raised expectations this morning)
  • Dow, 167 poinnts
  • S&P index +11.12 points
  • NASDAQ index up 32.38 points
European shares are also little changed:
  • German DAX, +0.71%
  •  France's CAC,+0.12
  • UKs FTSE, +0.48%
  • Spain's Ibex, -0.07%
  • Italy's FTSE MIB, +0.11%
In the US debt market, yields are little changed
  • 2 year, 2.40%, +0.8 basis points
  • 5 year 2.35%, +1.3 basis points
  • 10 year 2.572%, +1.8 basis points
  • 30 year 2.983%, +1.5 basis points
In the European benchmark 10 year notes yields are higher marginally
  • Germany, 0.060%, +0.4 basis points
  • France 0.423%, +0.3 basis points
  • UK 1.22%, unchanged
  • Spain 1.1%, +1.6 basis points
  • Italy, 2.606%, +2.8 basis points

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