USD at highs for the day as North American traders enter
The USD is moving higher and trading at the session highs vs. many of the currency pairs as North American traders enter for the day. The GBP is the weakest. Below is a snapshot of the % changes for the major currency pairs and the ranking of those currencies from sttongest to weakest.
The charts below show the high to low ranges and the pip values for the ranges compared to the 22 day average (about a month of trading). The top chart is showing the weakness in the GBP pairs. The GBPUSD, GBPJPY, GBPCHF, GBPAUD are all trading at session lows the EURGBP is at the highs. Worries about Brexit and what PM Johnson might do next are weighing on the pound. The USD is also at/near extremes vs the EUr, JPY, CAD, AUD and NZD. The price action is mainly in the GBP, but relative to the 1 month trading range, the AUDUSD and NZDUSD are trading near the 22 day trading range. The RBNZ kept rates unchanged. The NZDUSD moved initialy higher on the news, but has since stepped lower and is trading at the session lows (see posts here and here).
In other markets;
- spot gold is trading down $5.31 or -0.35% at $1526.40
- WTI crude oil futures are trading down $1.01 or -1.76% at $56.25. The Department of Energy will release their weekly inventory data at 10:30 AM ET with expectations of oil inventories to fall by -600 K. The private data released late yesterday showed a build inventories. Below are the changes:
In the US stock market major indices are now mixed
- Dow , +21 points
- S&P index +1 point
- NASDAQ index -4 points
In the European equity markets:
- German DAX, -1.0%
- France's CAC, -1.35%
- UK's FTSE, -0.5%
- Spain's Ibex, -1.0%
- Italy's FTSE MIB, -1.5%
In the US debt market yields are trading around unchanged levels. The US treasury will auction off five year notes at 1 PM ET
In the European debt market, the benchmark 10 year yields are lower
