TECHNICAL ANALYSIS

NZD is strongest and GBP is weakest as NA traders enter for the day


USD is mixed

As the North American session begins, the NZD is the strongest of the major currencies while the GBP and CHF compete for the weakest of the major currencies. The USD is mixed with modest gains against the GBP and CHF and declines against the NZD, AUD, JPY and CAD. The dollars change little against the EUR. The Dems and GOP are looking to compromise with a “skinny bill” somewhere in the middle of the chasm they have created. The minutes of the FOMC meeting will be released later, with the market looking for any changes in the Fed’s thinking. The S&P and NASDAQ closed at record highs yesterday and will look to expand on those gains (early indications are for a slightly higher open). Near. Trump has postponed talks with China. Brexit talks have stalled.

USD is mixed

The ranges and changes are modest. GBPUSD leads the way with the 72 pip range as the price fails to maintain the uptrend. Today the pair hit a year high on Jan 2 at 1.32656 (Bloomberg has a Jan 1 high at 1.3278). Today’s high price reached 1.32665 and reversed lower. EURUSD has dropped its gains and is trading just above its unchanged level for the day. The USDCHF has soared and is looking to test its 100 hour moving average at 0.90699. Its high price hit 0.90662 within a few pips of this key moving average target. AUDUSD and NZDUSD have spent most of their day moving higher. AUDUSD crosses to its highest level since February 2019. NZDUSD is for the 3rd day in a row.

Ranges and changes for major currency pairs In other markets:

  • Spot gold is trading down -3.80 or -0.69% $ 1,988.50
  • SPot Silver is trading down $ 0.23 0.84% ​​to $ 27.43
  • WTI crude oil futures are trading down $ 0.39 or -0.91% at $ 42.50. It rose to $ 42.76 while the low fell to $ 42.40. It’s not much of the range for the day

on the pre-market for US equities, futures now imply a mixed opening:

  • Dow up 41 points
  • S&P up 4 points
  • NASDAQ, -6 points

European indices are trading higher after reversing yesterday’s gains and closing lower:

  • German Dax + 0.3%
  • CAC of France, + 0.2%
  • British FTSE 100, + 0.3%
  • Ibex from Spain, + 0.2%
  • Italy FTSE MIB, + 0.5%

US yields are falling as the yield curve flattens between 2 and 10 of about a pip and a 1/4. The US Treasury will auction 20-year notes today:

US yields are lower European 10-year benchmark yields are slightly lower.
European yields are lower

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