The USD is mixed as North American traders start their day
As the North American session begins, the GBP is the strongest on the back of better than expected service PMI, and the AUD is the weakest. The AUD was the strongest currency yesterday outpacing all the major currencies into the RBA decision today. The central bank kept rates unchanged and the currency has wandered lower.
Looking at the changes and ranges, below the GBPUSD and the USDCAD are leading the way with the largest ranges. The USDCAD was moving higher as concerns about NAFTA seemed to be weighing on the CAD into the new day. However, it just took a turn lower after headlines saying Trump was looking to shift NAFTA focus toward bilateral agreements between the US and Canada and Mexico. The CAD currencies rose on the news. Other currency pairs, like the EURUSD, USDJPY, USDCHF, AUDUSD and NZDUSD are trading well below their 22 day average trading ranges. There is room to roam if the pairs get some momentum going.
A snapshot of other markets shows:
- Gold is unchanged at $1292.25
- WTI crude oil is down -$0.40 at $64.35
- US stocks are mixed. Dow futures imply a -8.69 decline. S&P is unchanged. Nasdaq is up about 13 points
- US yields are lower. 2 year is down -3.2 bps at 2.483%. 10 year 2.906%, down -3.6 bps. 30 year 3.0569%, down -2.7 bps
