The NZD is the strongest. The EUR the weakest before key US data

Technical Analysis

Author: Greg Michalowski | forex

Snapshot of the strongest and weakest currencies as NA traders enter for the day

As the market awaits some key economic data today (CPI and retail sales), the NZD is the strongest currency while the EUR is the weakest.  The USD is mixed with gains against the EUR, CHF, CAD and loses against the GBP, JPY, AUD and NZD.  

The dollar is trading near high levels for the day vs the EUR, JPY, CHF, and CAD currently. Much of that is retracing losses in the dollar from earlier today. The USDJPY is still 5 pips from the unchanged line.   So overall, an up and down (or down and up) kind of day.  The ranges are also low compared to the 22-day averages. There is room to roam on the data (should it surprise).

A snapshot of other markets shows:
  • Spot gold down -$0.84 to $1292.88
  • WTI crude is at $51.55, up $0.95 or 1.90%
  • US yields are up a bit today after a few days of declines.  2 year 1.5173%, up 0.4 bp.  5 year 1.9464%, up 0.8 bp.  10 year 2.3267%, up 0.9 bp.  30 year 2.8562%, up 0.9 bp
  • US stocks in pre-market trading are up a bit.  S&P futures are up 3 points.  Nasdaq futures are up 13 points.  Dow futures are up 30 points.

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