The USD is sitting near the middle of the ranking

As the North American session begins, the NZD is the strongest and the GBP is the weakest. The USD is near the middle of the rankings with most of the action in the GBP. The GBPUSD fell below its 100 hour MA on the back of disappointing PMI data. That 100 hour MA comes in at 1.28965. The low extended to 1.2850. We currently trade at 1.2861.

The USD is sitting near the middle of the ranking

The EURUSD traded in a 40 pip range (see charts below) and in the process spiked higher to test the 100 day MA, and then back down to test the low for the week and the 200 hour MA at 1.10459 (the PMI data helped to contribute to the ups and downs). The EURUSD remains in a 51 pip trading range for the week with would be the lowest trading range for a calendar week going back to at least 2002. Do we get an extension in the last hours of the trading day?

The ranges and changes for the major currencies

In other markets as the North American session gets underway, the snapshot is showing:

  • Spot gold is up $5 or 0.34% at $1469.42
  • WTI crude oil futures are down $0.22 or -0.38% at $58.35
  • The price of bitcoin on Coinbase exchange fell to a low price of $6928.31. That was the lowest level since May 17. The price currently trades back above the 7000 level at $7089.88 down -$508

In the premarket for US stocks, the futures are implying a higher opening:

  • Dow +47.71 points
  • S&P +5.21 points
  • NASDAQ +18.3 points

in the European market, major indices are also trading higher:

  • German DAX, +0.2%
  • France's CAC, +0.3%
  • UK's FTSE 100, +1.35%
  • Spain's Ibex, +0.47%
  • Italy's FTSE MIB, +0.2%

In the US debt market, yields are down by 1.4 bps to 2.9 bps

US yields are opening lower

In the European debt market, the benchmark 10 year yields are also trading lower

European yields are also lower