The NZD is the strongest and the USD is the weakest as NA traders enter for the day
It's "anything can happen" FridayAs the North American session begins, the NZD is the strongest and the and USD is the weakest. It is Friday and we know anything can happen on Friday/risks are increased as weekend risk is high. This weekend the US will be dealing with the impact of Hurricane Delta to it's shores today along with any potential deals out of Washington. Stocks are higher in early trading. Canada employment will be released at the bottom of the hour with the net change in unemployment at 150K. The unemployment rate is expected to falter 9.8% from 10.2%
The price ranges are relatively modest. The USDJPY continues to struggle with only a 23 pip range (after 17 pips yesterday). The pair did fall and found support buyers near the 100 hour MA (at 105.82). The USDCHF is the biggest mover relatively with a 53 pips run (mostly to the downside - lowest level since September 21). The pair is -40 pips lower. The EURUSD is also near a low dollar level (up 41 pips). The GBPUSD is little changed (+7 pips). The UK missed the GDP estimate for the month which has kept a lid on the pound (they continue to muddle along on Brexit as fishing remains a key problem).
A snapshot of other markets currently shows:
- Spot gold is trading up $21.60 or 1.14% at $1915.49
- Spot silver is up $0.54 or 2.27% at $24.37
- WTI crude oil futures trading lower by $0.30 or -0.73% of $40.88
- The Dow Jones up 119 points. Yesterday the index rose by 122.05 points
- S&P index is up 15 points after yesterdays 27.3 point rise
- NASDAQ is up 41 points. yesterday the index increased by 56.38 points
- German DAX, +0.1%
- France's CAC, +0.5%
- UK's FTSE 100, +6%
- Spain's Ibex, -0.4%
- Italy's FTSE MIB, -0.15%
In the European debt market, the benchmark 10 year yields are also lower, with Spanish yields leading the way to the downside at -6.0 basis points in the morning snapshot.