TECHNICAL ANALYSIS

CAD is strongest and AUD is weakest as NA traders enter for the day


The United States is generally higher

As North American traders enter for the day, the CAD was the strongest and the AUD is the weakest. The USD is mainly higher after a stronger run yesterday. The gains and losses in the major currencies are relatively modest (currencies are not running away today). After months of steady jobless claims, the market will have to digest another potentially shocking figure. The past 3 weeks have shown that jobless claims amount to 3,307,000, 6,867,000 and 6,606,000 for a total of 16,780,000. 5,500 new workers are expected to be added to the initial data on unemployment claims this week.

The United States is generally higher

The ranges and changes reflect the relatively calm in the market. The largest range against the USD is the GBPUSD at 71 pips. The pair is down -32 pips after reaching -60 pips at the bottom. USDJPY climbed but returned to midpoint in the morning snapshot. JPY crossovers are mostly close to line 0, as traders think about the next evolution of these “risk on” https://www.forexlive.com/ “risk free” currency pairs.

The ranges and changes for the main currency pairs

In other markets:

  • Spot gold is up $ 19.60 or 1.16% to $ 1,736.86
  • WTI crude oil was up $ 0.25 or 1.26% to $ 20.12. The low price extended to $ 19.77. Peak reached $ 20.53

The US equity pre-market shows modest gains:

  • Dow +15 points
  • S&P index up 6 points
  • NASDAQ up 36 points

on the european equity markets, the main indices are higher:

  • German DAX, + 0.8%
  • CAC France, + 0.2%
  • UK FTSE + 0.3%
  • Spanish ibex,
  • FTSE MIB in Italy + 1.2%

In the US debt market, yields are mixed with the 2-year increase slightly. The 30-year period is down -3.3 basis points. The spread over 2 to 10 years narrowed to 40.79 basis points from 43.47 basis points at the close yesterday:

US yields are generally lower

On the European debt market, the 10-year reference rates are mixed. Yields from Germany and the United Kingdom are slightly higher while those from France, Spain, Italy and Portugal are lower.

European returns are mixed

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