The USD is mostly lower ahead of the US employment report

The NZD is the strongest and the GBP is the weakest as North American traders enter for the day. The NZD rise comes despite a plunge in China exports (hmmmmm). The US employment (and Canada too) is due at the bottom of the hour. For a review, click HERE.

The NZDUSD squeezes higher and is the strongest

Looking at the chart of the NZDUSD, the rise in the London morning session was helped by the pair cracking above the 100 day MA (at 0.6769). The run has now taken the pair above the 100 hour MA (at 0.6783). Squeeze? Perhaps. It certainly helps to tilt the bias back higher technically.

The % changes of the major currencies

The GBP is moving lower as PM May pleads her case to lawmakers. It is making new session lows as the North American day begins and markets digest May's plea.

The ranges and changes of the major currencies

The ranges and changes are showing the USDJPY has traded the most pips vs the USD (at 70 pips - is is lower helped by softer stocks/safe haven flows) followed by the GBPUSD has traded 57 pips and trads near the session lows.

In other markets, the snapshot shows:

  • Spot gold is higher by $7.76 or 0.6% at $1293.41. A softer dollar is helping the tone again
  • WTI crude oil is down -$1.25 or -2.21% at $55.40

In the pre-market for US stocks, the futures point to a lower opening. The major indices fell back below the 200 day MA yesterday:

  • Dow -144 points
  • S&P down -15.6
  • Nasdaq down -56 points

These levels are near lows

In European markets, the major indices are lower:

  • German Dax, -0.67%
  • France, -0.54%
  • UK, -0.93%
  • Spain, -1.23%
  • Italy, -1.20%

The Hang Seng index fell -4.4% on the weaker trader data last night. The Hang Seng fell -1.91%. Ugly day in stocks.

In the US debt market ahead of the employment report, yields are marginally lower

  • 2 year 2.4671%, -0.6 bps
  • 10 year 2.633%, -0.5 bps
  • 30 year 3.023%, -0.3 bps

In the European 10 year benchmark yields, the yield changes are mixed

  • Germany 0.06%, -0.7 bps
  • France 1.411%, -1.1 bps
  • UK 1.192%, +2.0 bps
  • Spain 1.055%, +1.1 bps
  • Italy 2.517%, +4.8 bps