December 6, 2017
As the day moves toward the close, the ranking of the winners and losers is about to be crowned.
The strongest currency is the JPY.
The weakest currency is the CAD.
The USD ended mostly higher with declines only against the JPY and marginally vs the NZD (it is only down -0.04%). The USD had strong gains vs the CAD (on the back of more dovish BOC) and the AUD (up 0.58%). The GDP data out of Australia yesterday was the catalyst for the AUDUSD weakness. It is ending the day near the lows.
Looking at the ranges and changes (see below), the USDCAD shot up nearly 100 pips from yesterday's closing level (up 97 pips - see chart below), and also had a trading range (154 pips) which was way above its 22 day average. The BOC had a big impact today on that currency.
The Barclay trade of the week (see post on the pair from yesterday), paid off as it fell over 100 pips on the day (and was negative for most of the day). It is closing off the lows though.
In other markets near the close:
- Spot gold is trading down $2.71 or -0.21% at $1263.23
- Silver is trading down $.15 or -0.93% at $15.95
- US treasury yields are lower. Two-year 1.804%, -1.4 basis points. Five-year 2.124%, -1.8 basis points. 10 year 2.338%, -1.2 basis points. 30 year 2.727%, -0.3 basis points.
- US stock indices ended mixed and little changed. S&P index fell -0.1%. NASDAQ rose with 0.21%. Dow fell -0.16%
- Bitcoin continued its surge higher and cracked above, and will close above the $13,000 level. The digital currency today traded with a $11,000 handle a $12,000 handle and a $13,000 handle. The low reached $11,696.90. The high extended to $13,461.18. We are currently trading at $13,369. Ain't no stopping that train!
