The charts below show each currency and the changes from a percentage basis and pip basis. The NZD is the strongest currency – rising against all the major currencies. The NZD did the best against the USD. Reasons for the rise was more favorable dairy auction prices, US yields falling sharply helping the carry trade angle. Technically, the pair benefited from favorable moves above some technical levels in what was a very volatile day in forex trading
The weakest currency was the USD as it fell against all the major currencies in trading today. Weaker fundamentals, fears from Ebola, stock market falling, bond yields plummeting. All helped contribute to the weakness in the greenback.
The top chart below show the line bar of the range of the changes from yesterday’s 5 pm closing levels. The bottom chart shows the days ranges vs the 22 day averages (red line). Volatility was up. With the exception of the NZDUSD, the dollar was off the lows at the snapshot time (4:11 PM ET), but overall, the majors were closer to the dollars bottom for each then the top.
The GBP pairs had some wild volatility and trading ranges. The GBPJPY had a range of 313 pips, while the GBPNZD had a range of 392 pips – both well above their 22 day range averages.
Overall, it was a volatile ride in the currency markets today. The charts and numbers certainly support that idea.
The Changes from Yesterday and the ranges