The NZD is the strongest while the GBP is the weakest as the week begins in NA

Technical Analysis

Author: Greg Michalowski | forex

The USD is mixed to start the trading week

As the NA traders enter the fray after a hot, hot weekend (and European traders now deal with high temperatures), the NZD is the strongest and trading near session highs, and the GBP is the weakest and trading near session lows.  The USD is trading a little higher with gains vs GBP, EUR, JPY, and CAD, unchanged vs CHF, and down vs NZD.  

The USD is mixed to start the trading week
The GBP pairs are outperforming in terms of pip movements. The GBPUSD after moving higher earlier in the session, has reversed and is trading at the lows for the day.  The range is at 74 pips.  The GBPJPY is also lower now, after rising earlier (tested 200 hour MA at the high at 135.07, and is now just below the 100 hour MA at 134.51).  The EURUSD is stuck in a 16 pip trading range (that willl have to be extended in the NY session).  The pair is trading near the session low.  

The ranges in the GBP lead the way
In other markets:
  • Spot gold is up $0.30 or 0.3% at $1425.78
  • WTI crude oil is up $0.57 or 1.02% at $56.20
In pre-market for US stocks, indices are higher:
  • Dow up 41 points
  • S&P up 5 points
  • Nasdaq up 16 points
In the European markets, shares are higher:
  • German Dax, +0.25%
  • France's CAC, +0.20%
  • UK FTSE, +0.25%
  • Spain's Ibex unchanged
  • Italy's FTSE MIB, +0.20%
In the US debt market, yields are lower with a bias to a flatter yield curver:

US yields are lower with a flatter yield curverThe European yields are mixed in the benchmark 10 year sector with modest declines in German, France and UK and modest rises in Spain, Italy and Portugal debt.

The European yields are mixed


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