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

The CHF is the strongest and the USD is the weakest as the NA session begins. The major currencies are relatively scrunched together to start the trading day. The USDCHF has been trending to the downside after breaking below the 100 hour MA at 0.9181. It is the biggest mover with a decline of 0.39% on the day. The pair dipped below the 100 hour MA yesterday but failed. Today's move is seeing more momentum. That MA comes in at 0.91812. On the downside the next target comes in at 0.91179 to 0.91264.

The German preliminary inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data came in at 0.8% vs 0.7% expected. The YoY fell to 7.4% from 8.7% due to base effects from a year ago. Those numbers were a bit higher than expectations (YoY was expected at 7.3%).

At 8:30 AMET. the US GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term final for Q4 will be released with 2.7% vs 2.7% in the last estimate. The core PCE prices for Q4 are expected at 4.3%. The Initial jobless claims will also be released at 8:30 with the expectations at 196K vs 191K last week. Canada average hourly earnings for January will be released at 8:30 AM ET. Last Month the number came in at 3.39%.

Fed's Barkins, Collins and Kashkari all speak today.

IN other markets:

• Spot gold is up $5.78 or 0.29% at $1968.80
• Spot silver is up $0.48 or 2.01% at $23.82
• WTI crude is up $0.59 at $73.54
• Bitcoin is trading at $28614. On Monday, the digital currency bottomed at $26541 before rebounding

In the premarket for US stocks, the major indices are trading higher after yesterday's gains.

• Dow is 192 points after yesterday's 323.35 point rise
• S&P is up 23 points after yesterday's 56.52 point rise
• Nasdaq is up 73 points after yesterday's 210.16 point rise

In the European equity markets, the major indices are also higher:

• German Dax, up 1.10%
• France';s Cac, +1.25%
• UKs FTSE 100, +0.87%
• Italy's FTSE 100, +1.24%
• Spain's Ibex, up 1.57%

In the US debt market yields are mixed/little changed:

In the European debt market, the benchmark 10 year yields are trading mostly higher.