AUD is the strongest. EUR is the weakest
As North American traders enter for the trading day, the AUD is the strongest currency, while the EUR is the weakest.
Once again, however, the trading ranges are narrow with the EURUSD leading the way at 54 pips. All the major pairs are well below the 22-day averages (about a months worth of trading).
Is there more to come ahead?
Well we get things cooking with Feds Lockhart speaking on at 8:10 AM, followed by the ADP employment change report (estimate 190K). Be sure to get your guess in for a free t-shirt by CLICKING HERE.
I must admit, I am partial to Ms. Yellen...
Speaking of Yellen, she speaks at 8:30 AM ET but it only brief opening remarks at the National College Fed Challenge finals (I wonder if the students have to conduct monetary policy... It might be a little slow paced event). Later at 12:20 PM ET she is more on topic as she speaks on the economy.
At 8:30 AM the revised US productivity figures will be released. At 2 PM the Beige Book will be released. At 9:00 Feds Tarullo speaks and at 3:40 PM ET Feds Williams speaks. Oil inventories are also scheduled at 10:30 AM.
Finally Canada should not be ignored as they have their interest rate decision at 10 AM ET (1500 GMT). No change is expected but traders will be focused on the details of the statement of course.
The highlights are the ADP and the Fed Chair. Of course we have the ECB tomorrow and the US employment on Friday.
