The USD is mixed
As North American traders enter for the trading day, the NZD is the strongest currency while the JPY is the weakest. The USD is mixed, falling as funds head back in the "risk on" currencies like the NZD, AUD and CAD, and rising vs. the JPY as gains in stocks may be providing a flow out of the "relative safety" of the JPY today.
The USDJPY is trading at its high price for the day, while the USDCAD is near the low as the NA traders enter for the day. The JPY crosses are nearer their highs too as funds flow out of the JPY. The NZDUSD is the only pair vs. the USD that has a trading range higher than the 22 day average range (68 pips).
In other markets at the start of the day:
- Spot gold is down -$1.43 or -0.11% at $1330.56
- WTI crude oil is up $0.20 or 0.33% at $63.22
- Bitcoin is doing better today up $410 at $7340. The 200 hour MA is at $7371. A move above would be more bullish.
The US stocks in pre-market trading are looking to open higher:
- The S&P is projected to open higher at +9.62 points
- The Nasdaq is projected to be up 45.41 points
- The Dow is implying a 65 point gain
US yields are higher:
- 2 year 2.262%, +1.6 basis points
- 5-year 2.573%, +2.6 basis points
- 10 year 2.755%, +2.5 basis points
- 30 year 2.989%, +2.8 basis points
