TECHNICAL ANALYSIS

GBP is strongest and CAD is weakest when NA traders enter for the day


USD is generally higher

As North American traders enter for the day, the GBP is the strongest and the CAD is the weakest. USD is predominantly higher with gains against all major currencies except GBP and NZD. EUR is weaker as Covid cases skyrocket in Europe, with France registering 52K new cases. American cases are also booming. Mortality rates are increasing, but at a slower rate. The German Bundesbank sees the recovery continuing, but at a much slower pace. The German SAP saw its action hammered on a profit warning. This week in the United States, Facebook, Amazon, Apple, Google and Starbucks are all reporting. Covid revival talks are still stuck in the mud. The election in the United States will take place next Tuesday. The oil is out of order. Stocks are weaker in pre-market trading.

USD is generally higher

The ranges and the changes show that the USD has been generally higher. EURUSD, USDJPY, USDCHF, USDDCAD, AUDUSD spent most of the time today with the dollar higher on the day, but also off all highs.

Ranges and changes for major currency pairs

In other markets:

  • Spot gold is trading almost unchanged at $ 1,902.40
  • Cash is trading down $ 0.41 -1.67% $ 24.19
  • WTI crude oil futures are trading down $ 1 or -2.51% $ 38.85

In the pre-market for US equities, futures are at significantly lower levels for this week’s opening:

  • Dow industrial average -351 points
  • S&P Index -41 points
  • NASDAQ Index -116 points

on the European equity markets, the main indices are also significantly lower:

  • German DAX, -2.6%
  • CAC of France, -1.0%
  • United Kingdom FTSE 100, -0.4%
  • Ibex from Spain, -0.5%
  • Italy FTSE MIB, -1.0%

In the US debt market, yields are lower as the yield curve flattens:

US yields are lower

In the European debt market, returns are mixed. Ironically, Italian yields lead the market -4.7 basis points. Investors are also lowering yields from Spain and Portugal, while generally higher German yields are up 0.7%.

European yields

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