The EUR is the strongest. The NZD is the weakest.
The snapshot of the strongest and weakest currencies as North American traders enter, shows that the EUR is the strongest while the NZD is the weakest. The USD is mixed with declines vs the EUR and CAD, gains vs the AUD and NZD and near unchanged levels vs the GBP, JPY, and CHF.
Looking at the changes and ranges below, the EUR pairs are trading at the extremes (highs) as the NA trading begins. The ranges are still shy of the 22 day averages for the major pairs. There is room to roam.
Up ahead is the ADP report at 8:15 AM ET/1215 GMT with estimate at 185K vs 253K. At 8:30 AM the US initial jobless claims (243K vs 244K est) and trade balances for US (-46.3B est vs -47.6B last) and Canada (-0.50B est. vs -0.37B last) will be released as well. Canada building permits are expected to come in at +1.0% vs -0.2% last month.
At 9:45 PM ET/1345 GMT, the Markit services PMI final reading for June is expect to come in at 53.0. At 10 AM ET/1400 GMT the services ISM index is expected to come in at 56.5 vs 56.9 last.
Oil inventories at 11 AM ET/1500 GMT.
G20 meeting gets underway. Fed's Powell speaks at 10 AM ET/1400 GMT. At 12 PM ET/1600 GMT, ECB Weidman and Nowotny discuss the future of the Euro
In other markets:
- US stocks are lower in premarket trading: S&P futures are down -9.0 points. The Nasdaq futures are down -53 points and the Dow futures are down -55 points
- US yields are up strongly: 2 year is up 2 bp at 1.422%. 5 year is at 1.963% up 5 bp. 10 year is at 2.378%, up 5.5 bp and 30 year is at 2.89% up 4.3 bp
- European yields are also moving higher with German 10 year up 9 bp to 0.560%. France at 0.914% up 10 bp. UK 1.319%, up 6 bp. Italy at 2.261%, up 10 bp. European stocks are trading lower with the Dax down -0.89%, the France CAC down -1.2% and the UK FTSE down -0.79%
- Spot gold is down $2.70 or -0.21% at $1224.48
- WTI Crude is up $0.72 to $45.86. THe low is $45.20. The high is $45.92
