A snapshot at the start of the NA session shows EUR is the strongest, NZD is the weakest.

Technical Analysis

Author: Greg Michalowski | forex

The USD is a bit higher but not moving away

The snapshot of the major currencies at the start of the NA day shows the EUR has taken over as the strongest currency on the back of a more hawkish statement from the ECB (before Draghi). The NZD is the weakest.  The USD is a bit stronger.  Overall, the changes are relatively modest.

The ranges and changes are showing the modest-y in the price action.  All the pairs are below their 22 day average trading range, with the USDCAD getting near it's average. However, that pair is back near unchanged after an up and down trading day.  The USDJPY is trading back near the highs after being more negative.  The GBPUSD remains down on the day, but it bounced off the 100 and 200 hour MAs at the lows (at 1.3852-57). 

A snapshot of other markets at the start shows:
  • Spot gold is down -$0.15 or -0.01% at $1325.37
  • WTI crude oil is also near unchanged at $61.23
  • US yields are unchanged. 2 year is at 2.258%, +0.6 basis points.  10 year yields remains at 2.883%, unchanged on the day.  30 year 3.153%, +0.3 basis points
  • US stock futures are implying a higher opening.  Dow futures imply a 25 point rise.  NASDAQ futures imply a 25 rise.  S&P futures imply a 3 point rise
Draghi, claims and housing data from Canada at the bottom of the hour. 
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