Technical Analysis

The AUD is the strongest and the GBP is the weakest as NA traders enter for the day

The USD is mostly lower

As North American traders enter for the day, the AUD is the strongest, continuing the move higher after the RBA cut to 1% yesterrday.  The AUDUSD moved above 100 hour MA at 0.6996 and is running toward the 100 day MA at 0.70334. The GBP is the weakest of the majors – also continuing the the move lower after weaker data yesterday and a more dovish BOE Carney.  The USD is weaker with declines vs all the major currencies with the exception of the GBP.

Looking at the ranges, they are in the 22 piip to 43 pips for the majors. All are below the 22 day averages.  The GBPUSD which is the weakest is trading lower, but is in the middle of the day’s range.  The AUDUSD is near it’s high as it’s run continues to the upside.  The JPY crosses are more mixed today with declines vs the EUR, GBP. It is higher vs the AUD and NZD. Price action is a bit mixed.

The ranges and changes

In other markets:

  • Spot gold is down about -$1.70 at $1417 after rising earlier to $1437.88. The price is trading near session lows at the start of the day
  • WTI crude is up $0.44 or 0.8% at $56.69
  • Bitcoin is up $572 at $11271. The low was at $10589. The high reached $11576.

IN the pre-market for US stocks, the futuers are implying a higher opening:

  • Dow up 67
  • S&P up 9 points
  • Nasdaq up 30 points

IN the US debt market, the yields in the US continue to the downside:

US yields are lower

In the European 10 year benchmark note sector, the Italiian yields are moving lower on the back of budget progress. Yields are down -15.8 bps.  The German 10 year is down -1.8 bps and nearly reached -0.40%. The France 10 year is at -0.09% today.

European 10 year yields are lower


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