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

Technical Analysis

Author: Greg Michalowski | forex

The USD is modestly lower with the exception of gains vs JPY and AUD

As North American traders enter for the day, the NZD is the strongest while the JPY is the weakest.  The USD is modestly lower with the exception of gains vs. the JPY (+0.39%) and NZD ((+0.12%).  The USD is down the most vs the CAD in the morning snapshot (-0.28%).  Stocks are lower.  The price action has been  up and down (or down and up) as choppy conditions (non trending) continues. Yesterday, saw similar price moves

Bitcoin is soaring (up 13.8% - RobinHood just announced restricted trading).  Meme stocks are higher as buy restrictions are lifted at least for now (RH did get an additional $1 billion from investors which may ease some of the capital requirements at their brokers).   Germany showed a better unemployment change (-41K vs +7.5K estimate. The unemployment rate remained steady.  US yields are higher. 

The USD is modestly lower with the exception of gains vs JPY and AUD
Looking at the ranges and changes, there is some good price ranges (sans the USDCHF at 25 pips). The AUDUSD has moved lower and now recovered most of the declines. The GBPUSD and EURUSD also moved lower early in the session, only to rebound and have modest gains now.  The JPY crosses are all higher. 

The ranges and changes for the major currency pairs
In other markets a snapshot shows:
  • Spot gold is is trading up $24 or 1.3% $1867.26
  • Spot silver is trading up $0.89 or 3.37% at $27.39
  • WTI crude oil futures are trading up $0.15 or 0.29% of $52.49
  • The price of bitcoin on Coinbase it is trading sharply higher by $4108 or 12.35% of 37,395
In the US stocks, the major futures indices are lower in premarket trading.
  • S&P index is trading down -37 points
  • Dow industrial average down $-330
  • NASDAQ index is currently trading down down 134 points
In the European equity markets have moved back to the downside and what is an up and down week. Yesterday shares moved higher. Monday shares moved lower
  • German DAX, -1.3%
  • France's CAC, -1.2%
  • UK's FTSE 100, -1.3%
  • Spain's Ibex, -1.4%
  • Italy's FTSE MIB -1.1%
In the US debt market, yields are higher with a steeper yield curve.

US yields are higher
The benchmark 10 year yields in Europe are trading higher across the board with UK yields up the most at 4.4 basis points.

European yields are mostly higher
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