TECHNICAL ANALYSIS

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


USD is slightly lower except for gains against JPY and AUD

As North American traders enter for the day, the NZD is the strongest while the JPY is the weakest. USD is slightly lower except for gains against JPY (+ 0.39%) and NZD ((+ 0.12%). It is USD that retreats the most against CAD in the morning snapshot (-0.28%). Stocks are weaker. Price action has been rising and falling (or falling and rising) as volatile conditions ( no trend) continue.

Bitcoin is booming (up 13.8% – RobinHood just announced restricted trading). Meme shares are higher because purchase restrictions are lifted at least for now (RH has secured an additional $ 1 billion from investors, which could ease some of their brokers’ capital requirements). Germany showed a better evolution of unemployment (-41K vs + 7.5K estimate. The unemployment rate has remained stable. US yields are higher.

USD is slightly lower except for gains against JPY and AUD

Looking at the ranges and changes, there are some good price ranges out there (minus the 25 pip USDCHF). The AUDUSD fell and recovered most of the declines. GBPUSD and EURUSD also fell early in the session, only to rebound and record modest gains now. JPY crosses are all higher.

Ranges and changes for major currency pairs
In other markets, a snapshot shows:

  • Spot gold trades up $ 24 or 1.3% $ 1,867.26
  • Cash is trading up $ 0.89 or 3.37% to $ 27.39
  • WTI crude oil futures are trading up $ 0.15 or 0.29% from $ 52.49
  • Bitcoin price on Coinbase is trading strongly at $ 4,108 or 12.35% of 37,395

In US stocks, the major futures indices are lower in pre-market trading.

  • S&P Index trades -37 points
  • Dow industrial average down -330 $
  • NASDAQ index is currently trading down 134 points

In European stock markets have returned to the downside and what is a week up and down. Yesterday stocks rose. Monday’s stocks fell

  • German DAX, -1.3%
  • CAC of France, -1.2%
  • FTSE 100 in the UK, -1.3%
  • Ibex from Spain, -1.4%
  • Italy FTSE MIB -1.1%

In the US debt market, yields are higher with a steeper yield curve.

US yields are higher
Europe’s 10-year benchmark yields are trading higher across the board, with UK yields rising the most at 4.4 basis points.
European yields are generally higher

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