The USD is the strongest and the CHF is the weakest as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

US yields are higher ahead of the 10 year auction

As North American traders enter for the day, the USD is the strongest, and the CHF is the weakest.  The pairs are relatively scrunched together.  There is no runaway winner or loser. US yields are higher with the 10 year up around 3.5 basis points ahead of the 10 year auction at 1 PM ET.  Gold is lower. Crude oil is higher ahead of the weekly inventory data at 10:30 AM ET. Private inventory data released late yesterday showed crude inventories rose by a greater the expected amount of 12.8M barrels.

US yields are higher ahead of the 10 year auction
Looking at the changes in ranges, the ranges are relatively modest compared to the 22 day averages. The levels are also mostly off the extremes although the USDCHF is trading close to the highs.  

The ranges and changes for the major currency pairs
In other markets:
  • Spot gold is trading down to dollars or -0.12% at $1713.90
  • Spot silver is down $0.15 a minute 0.58% at $25.78
  • WTI crude oil futures are up $0.47 or 0.73% at $64.48
  • Bitcoin is trading up $1338 or 2.45% and $55,637
in the premarket for US stocks, the major indices are mixed after the NASDAQ index sorted by 3.69% yesterday.  A snapshot of the premarket levels from the futures imply:
  • S&P, -2.69 points. It rose 54.09 point yesterday. 
  • Dow industrial average was 97.26 points. It rose 30.3 point yesterday.
  • NASDAQ index -52.74 points. It rose 464.66 point yesterday
In the European equity markets, the major indices are mostly higher, with the German DAX trading at another all-time high.
  • German DAX, +0.36%
  • France's CAC, +0.61%
  • UK's FTSE 100, -0.16%
  • Spain's Ibex, +0.3%
  • Italy's FTSE MIB, +0.1%
In the US that market, yields are higher with the 10 year up 3.2 basis points. The two – 10 year spread it is also wider at 139.31 basis points basis points versus 136.56 basis points at the close yesterday.

US yields are higher In contrast, in the European debt market the benchmark 10 year yields are trading lower across the board.  

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