May 12, 2015: AUD is the strongest. USD is the weakest.
As North American traders enter for the day, the AUD is the strongest currency, while the USD is the weakest.
The AUD has benefited as home loans grew at a faster pace than expectations (+1.6% in March vs. +1% estimate). The annual budget statement also expects a narrower deficit next year (-35.1B vs 40B est). The USD is down vs all the major currencies in trading today. Stock markets are lower. Bond yields are higher. The GPPUSD moved above the 200 day MA for the first time since August 19, 2014 (at the 1.5634 level - now support). The EURUSD moved below the 100 day MA yesterday, but is back above that MA today as the pair struggles to find which currency is stronger/weaker. The 100 day MA is at 1.1218 currently and will be back as support.
On tap today:
- NFIB Small business optimism 96.0 vs 95.2 (April - 9 AM ET)
- JOLTS job openings 5108 est vs 5133 (March - 10 AM ET)
- Fed's Williams speaks (12:45 PM ET)
- Monthly budget statement - surplus 155.0B vs 106.9M (2 PM ET)