The USD is mixed/lower on the day
As North American traders enter for the day, the NZD is the strongest, while the CHF is the weakest. The NZD was buoyed by more positive comments by RBNZs Orr in the Asian session. The RBNZ kept rates unchanged on Wednesday. The CHF moved lower continuing the trend yesterday. The USDCHF moved above the 100 day MA yesterdaya t 0.98905. Today the USDCHF continued the run higher and is now testing the higher 200 dayMA at 0.99466. The GBP remains weak bur off lows as well.
The ranges and changes charts for the day (see charts belos) are showing action in the GBP pairs (they have the biggest ranges) but the pairs are off the low levels for the GBP too. So there is some recovery in the GBP. The EURGBP was up around 29 pips on the day at one point but is back down to unchanged. The NZDUSD has moved to the 22 day average on the Orr comments and trades at the session highs on the day. The other pairs have moderate rates compared to their 22 day averages (around a month of trading).
In other markets:
- Spot gold is trading up about $0.70 or 0.06% at $1504.70
- WTI crude oil futures are trading down eight cents or -0.14% at $56.40
In the premarket for US stocks, the futures are implying a higher opening
- The Dow Jones industrial average is up 77 points
- The S&P index is up 6.23 points
- NASDAQ is up 7 points
In the European market, major indices are lower:
- German DAX, -1.0%
- France's CAC, -1.29%
- UK's FTSE, -0.44%
- Spain's Ibex, -0.7%
- Italy's FTSE MIB, -1.2%
In the US debt market yields are trading lower:
A snapshot of the European yields show mixed moves in the benchmark 10 year sector with small yield moves higher and lower:
