The strongest and weakest currencies as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

The CHF is the strongest. The GBP is the weakest

As North American traders enter for the day, the CHF is the strongest while the GBP is the weakest.  The CHF just moved to the top of the table with a rush of buyers in the currency.  There was no major catalyst for the current move (click here).

The USD is mixed with the greenback up GBP, CAD, NZD, EUR and AUD, but is down vs the JPY and CHF.

The ranges and changes show the CHF pair leading the way and those pairs are all trading near their low extremes. The GBP pairs are also trading at extreme levels for the day, as NA traders enter for the day (see top chart below). The low to high trading ranges are mostly below their 22 day averages. The EURUSD  is trading in a 40 pip trading range.  The 22 day average is 66 pips. So there is room to roam. That pair is recovering after bouncing off its 100 hour MA at 1.1431 (low was 1.1434) earlier in the day.  

In other markets:
  • Spot gold is up $5.00 or 0.40% to $1233.56
  • WTI crude oil is unchanged at $46.51
  • US yields are down. 2 year is down 1 bp. 5 year is down 2 bp. 10 year is down 2.5 bp.  30 year is down 2.2 bp
  • US stocks in pre-market trading are up with Dow futures up 15.  S&P is up 1.75 points and Nasdaq futures up 8.25 points.