The NZD is the strongest, while the CHF is the weakest as NA traders enter

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed

The NZD is the strongest currency.  The trade data was better in NZ although RBNZ's Orr said there is room to cut.  The CHF is the weakest.  The USDCHF moved close to its 100 hour MA at the lows, but buyer came in against the rising MA and sent the pair higher (sending the CHF lower). The CHF has been trending lower (USDCHF) since the last swing low on April 12.  The price last traded below the 100 hour MA on April 15. The USD is mixed in early trading.

The US dollars next. The NZD is the strongest, while the CHF is the weakest
The ranges are very modest with the major pairs being led by the NZDUSD at 41 pips. The EURUSD only has a 23 pip range. The GBPUSD has only a 30 pip range. The USDCHF is in a 24 pip range.   It is Friday and that may be taking some of the volatility out of the market. Howover the first cut of US GDP should wake the market higher. The expectation is for 2.3% for the annualized GDP forecast. The Atlanta Fed estimated 2.7% in their final reading before the report released yesterday.

the ranges are somewhat muted
IN other markets:
  • Spot gold is up $3.60 or 0.29% at $1280.70
  • WTI crude oil futures lower by -$1.30 or -1.98% at $63.93
In the pre-market for US stocks, the major indices are trading lower. The Dow is down as Exxon earnings missed and Intel beat, but gave a downbeat assesssment going forward (down over 7%). Amazon is higher after its earnings smashed expectations  
  • Dow, --65 points
  • Nasdaq,-27 point
  • S&P,  -5 points

In the European markets, indices are mixed
  • German Dax, +0.09%
  • France's Cac +0.04%
  • UK FTSE -0.16%
  • Spain's Ibex -0.07%
  • Italy's FTSE MIB  -0.12%
In the US debt market yields are marginally lower in trading today:

US yields are lower at the start of the New York session
European 10 year benchmark yields are mostly lower:

European  10 year yields are lower


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