The USD is mixed
As the NA session begins, the NZD is the strongest of the major currencies. The JPY is the weakest.
The NZDUSD tried to rally yesterday- breaking above the 100 hour MA but failing. Today, the price is starting the day back above the 100 hour MA at 0.68956 (trades at 0.6910). Stay above the 100 hour MA and a topside trend line and 200 hour MA (green line) are the next targets for the corrective targets (see chart below).
The price action vs. the USD is contained on this last day of the week. The largest range is the GBPUSD at 55 pips. That is still well below the 22 day average. The GBPNZD is trending lower and the biggest mover in pips at 165 pips for the day. It trades near the lows for the day.
Overall, however, the activity is fairly light. The only data today is out of Canada this morning with the CPI and retail sales both being reported. The USDCAD is trading near unchanged levels after moving higher but backing off.
A snapshot of the other markets is showing:
- Spot gold down -$2.34 or -01.8% at $1288.40.
- WTI crude oil is up $0.11 or 0.17% at $71.60.
- Bitcoin on Coinbase is trading down -$109 at $8086.
- The Dow futures are implying a 40point rise. Nasdaq futures are implying a -13 point decline
- US yields are lower: 2 year 2.55%, down -0.7 bp. 5 year 2.919%, down -1.7 bps 10 year 3.0947%, -1.6 bps. 30 year 3.23%, down -1.4 bps
The shares of Google (Alphabet) is down over 2% in early trading. There is a report out that 60 Minutes on Sunday will feature Google and the implications are that they stifle competition.
