That makes the EURGBP the biggest mover of the day. The USD is mixed.
As the NA traders enter for the day, the EUR is the strongest currency while the GBP is the weakest. The USD is mixed (more lower) with small gains vs the GBP and JPY, and declines vs the EUR, CHF, AUD and NZD. The greenback is trading near unchanged levels vs the CAD.
That combination makes the EURGBP the strongest currency of the day. It is up by 0.43% and moved away from MA's near the close from yesterday and the lows for the day including the 200 hour MA, the 100 hour MA and the 200 day MA. The pair is moving toward swing highs that have capped the pair going back to the end of November.
The ranges (see lower chart) are all well below their 22 day averages (red line is the 22 day average). This is indicative of a market that is not all that excited. Being the week before Christmas/New Years, traders are likely taking it very easy this week. The EUR pairs though are trading near extreme levels. So they are moving with a directional bias.
In other markets today, the snapshot shows:
- Spot gold down $.88 or -0.07% at $1261.60
- WTI crude oil futures are up $.36 order +0.63% at $57.52
- US yields are higher: two-year 1.8443%, +1.6 basis points. 10 year 2.4086%, +1.4 basis points. 30 year 2.7545%, +1.3 basis points
- US stocks in premarket trading: S&P futures +3.25 points. Dow futures +59 points. NASDAQ futures +0.5 points
