The major pairs are clustered together
As US traders return from the 3 day Memorial Day weekend, the AUD is the strongest, and the CHF is the weakest. The major pairs are all clustered together, suggesting that the market is really unsure of the next move (for the time being). The USD has modest gains vs the CHF, CAD, GBP and EUR, and is down modestly vs the AUD, NZD and JPY.
The trading ranges and changes reflect the modest moves. While the GBPUSD, USDJPY and USDCAD have ranges in the 40's (pips), the EURUSD, USDCHF, AUDUSD and NZDUSD pairs have only traded less than 22 pips. That is not a whole lot of trading movement. The USDCADs is farthest from the unchanged line at 21 pips. The USDCHF is trading at sesssion highs. The other pairs vs. the USD are within 9 pips of unchanged. There is room to roam given a push.
In other markets:
- Spot gold is down -$7 or -0.54$ at $1282.
- WTI crude is up $0.31 or 0.51% at $58.94
In the US pre-market for stocks, future are implying a modest gain
- Dow up 55 points
- S&P +4.3 points
- Nasdaq +15 points
In Europe, shares are mixed:
- German Dax, unchanged
- France's CAC unchanged
- UK FTSE +0.4%
- Spain's Ibex -0.25%
- Italy's FTSE MIB, -0.6%
In the US debt market, yields continue their move lower:
- 2 year 2.147%, -1.6 bps
- 5 year 2.095%, 2.5 bps
- 10 year 2.292%, -2.8 bps
- 30 year 2.724%, -2.6 bps.
