The EURUSD is the strongest. The JPY is the weakest
A snapshot of the strongest and weakest currencies as North American traders enter for the day shows the EUR as the strongest and the JPY as the weakest. Comments from Draghi regarding room for pairing stimulus has the EUR surging to the upside. Although the USDJPY is little changed, the JPY crosses are marching higher in trading today making the JPY the weakest.
The ranges and changes has the EURUSD leading the charge for a change (96 pips above its 22 day average of 64 pips). Most of the EUR pairs are trading near the extreme highs. The exception is the EURCHF as the CHF is following close behind the EUR as the 2nd strongest currency today.
In other markets, the snapshot shows:
- Spot gold trades at 1250.87, up $6.13 or 0.5%
- WTI crude oil futuresare trading at $43.90 up $.52 or 1.2%
- US yields are higher.. 2-year 1.365%,, +3.2 basis points.. 5-year 1.7865%,, +3 basis points. 10-year 2.1648%, +2.7 basis points. 30-year 2.719%,, +2.2 basis points
- US stock futures are lower in premarket trading. S&P futures are down --2.25 points. NASDAQ futures are down -23 points and Dow futures are down -19.0 points. European equities are lower as well.
On the economic calendar today:
- S&P/Case Schiller Home price index for the 20 largest cities will be released at 9 AM/1300 GMT. The MoM is expected to rise by 0.5% with the YoY expected to show a rise of 5.9% vs 5.89% last month.
- The conference Board consumer confidence will be released at 10 AM ET/1400 GMT. The estimate is for a dip to 116.0 versus 117.9 last
- Also at 10 AM PT the Richmond Fed manufacturing index for June is expected to rise to 5 from 1 last month.
- US Feds Harker to speak on the economy in London at 10 AM PT/1400 GMT
- Fed chair Yellen will also speak from London at 1 PM ET/1700 GMT
- The U.S. Treasury will auction off 5-year notes at 1 PM ET/1700 GMT