The USD is the strongest, while the NZD is the weakest as NA traders enter for the day

Technical Analysis

Author: Greg Michalowski | forex

It is Canada employment day

As North American traders enter for the day (and traders in the CAD prepare for the employment report at 8:30 AM ET/1330 GMT), the USD is the strongest and the NZD is the weakest.  The CAD is a little stronger but mostly against the AUD and NZD. It is lower vs the greenback so far today (but off it's lowest levels).  In the US China trade news, Peter Navarro said that they are willing to postpone the Dec 15 tariffs but need to maintain the other tariffs to insure movement in Phase II and Phase III trade talks.  

It is Canada employment day
The changes and ranges for the major pairs is showing  the AUDUSD and the NZDUSD were the big moves and trading near session lows as well.  It has been a steady move lower for those pairs. The other pairs vs the USD are trading in a 33 pip or below low to high trading range. 

The ranges and changes
In other markets:
  • Spot gold is down -$8.64 or -0.59% at $1460
  • WTI crude oil is down -$0.76 or -1.33% at $56.39
In the pre-market for US stocks, the futures are implying a mixed opening:
  • The Dow is up 42 points now
  • The S&P is unchanges now
  • The Nasdaq is down -9 points
In the European markets, the major indices are mostly lower. The snapshot is showing:

  • German Dax, -0.3%
  • France's CAC -0.2%
  • UKs FTSE 100, -0.4%
  • Spain's Ibex, -0.45%
  • Italy's FTSE MIB +0.1%
IN the US debt market, yields are ticking higher.  The 10 year is up 2.4 basis points. The 2-10 year spread is marginally higher at 25.73 vs 25.01 yesterday

US yields are higher
In the European debt market, the benchmark 10 year yields are higher. Investors in Italian debt are bailing.  Italy's yields rose above Greece on Thursday for the first time in more than a decade. There is concerns that political uncertainty will return in Italy, and economic reforms had taken hold in Greece.

European 10 year yields

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