The AUD is the strongest and the CHF is the weakest as NA session begins

As the NA session begins, the AUD is the strongest of the major currencies, while the CHF is the weakest. The USD is mostly lower with small gains versus the JPY and CHF. The USD was mostly higher yesterday.

Yesterday, the AUD was the weakest of the majors and in the price traded below its 200 day moving average for the first time since January 6 at 0.6803. The low price reached 0.6794 but could not sustain downside momentum and moved back higher in the early Asian session. Is the low in place? The 100 hour MA at 0.6860 (and moving lower), is the next target that if broken would confirm the low is in place.

For the USDCHF USD/CHF The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, Read this Term, on the hourly chart below, the price tested, then broke, above the high from last week at 0.9331. However, near the same level, the pair tested a topside trend line and has backed off a bit back toward the close from yesterday.

US jobless claims Jobless Claims Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or person Jobless claims are a weekly statistic reported in the United States that represents a key barometer for domestic employment. As one of the most closely watched US indicators, jobless claims carry a lot of weight in financial markets, namely forex and the stock market.Jobless claims are reported on a weekly basis by the Department of Labor. While painting a picture of the overall health of the economy, jobless claims can be broken down into two types.This includes initial jobless claims or person Read this Term will be released at 8:30 AM with expectations of 200 K versus 194K last week. Continuing claims are expected at 1.700M versus 1.696M . US GDP revision for the 4Q will also be released (expectations 2.9%, unchanged).

Later this morning (10:30 AM ET), the EIA inventory data will be released with crude stocks expected to rise by 2.083 million. The private data released toward the close yesterday showed a stronger build closer to 10 million. Despite the sharp increase in inventory expectations, the price of crude oil is marginally higher today.

In other markets:

• spot gold is trading up $1.58 or 0.09% at $1825.87
• Spot silver is trading up $0.06 or 0.28% at $21.57
• WTI crude oil is trading up $0.82 or 1.1% at $74.65
• Natural gas is trading near unchanged at near unchanged at $2.29. The low price yesterday extended to $2.10 which was the lowest price going back to July/August 2020
• Bitcoin is trading at $23,849. The price is working on its third day to the downside

Overall US equity prices are rebounding after yesterday's mixed results

• Dow Industrial Average up 113 points points after yesterday's -84.50 point decline
• S&P index is 10.4 points after yesterday's -81.75 point decline
• Nasdaq index is up 124 points after yesterday's 14.77 point rise. Shares of Nvidia are leading the way after better than expected results. Shares are up over 10% in pre-market trading.

In the European stock market the major indices are mostly higher. The UK FTSE 100 is down marginally

• German DAX up 0.59%
• France's CAC up 0.44%
• UK's FTSE 100 down -0.20%
• Spain's Ibex up 0.63%

In the Asian Pacific market today:

• Japan’s Nikkei 225 markets were closed due to a holiday

• China’s Shanghai Composite -0.11%

• Hong Kong’s Hang Seng -0.35%

• Australia’s S&P/ASX 200 -0.4%

In the US debt market, the yields are marginally higher after declines yesterday:

• 2 year yield 4.707% +0.9 basis points
• 5 year yield 4.155% +2.2 basis points
• 10 year 3.948% +2.6 basis points
• 30 year 3.938% +1 basis point

in the European debt market the benchmark 10 year yields are higher