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

Technical Analysis

The USD is mixed

The German court decision (see Justin’s post here) ultiimately sent the EUR lower and pushed that currency to the weakest of the majors. The CHF followed right along.  On the other extreme, the CAD is the strongest being helped by rising oil once again. The June contract is up by about 10% and the July contract is up by 8% in early New York trading. The AUD is also mostly higher on the day. 
The USD is mixed

The EURUSD is leading the majors with an even 100 pip trading range on the day. The pair is near session lows and is down -69 pips on the day.  The USDCHF is near it’s high and USDCAD is near it’s lows (-48 pips on the day)  The USDJPY and JPY crosses today are subdued with well below average trading ranges and modestly changed on the day (from -5 pips for the USDJPY to +22 pips for the CADJPY).

The ranges and changes for the major currency pairs
In other markets:

  • Spot gold is trading down $ 5.50 or -0.32% $ 1696.66
  • WTI June crude oil it is trading up $ 2.16 or 10.59% at $ 22.55. The July contract is trading up $ 1.92 or 8.43% of $ 24.70

In the pre-market for US stocks the futures are implying higher levels

  • Dow is +243 points
  • S&P is +27 points
  • Nasdaq is up 97 points

In the European market, the major European markets are trading up despite the German court ruling

  • German DAX +1.89%
  • France’s CAC what’s 1.5%
  • UK FTSE +1.4%
  • him Italy’s FTSE MIB +0.9%

In the US debt market, the yields are marginally higher (US 10 year yield is trading up 2.5% basis points), with a steeper yield curve. This continues the modest moves higher seen yesterday (10 year up 2.3 basis points).

US yields are mostly higher

In the European debt market, the benchmark 10 year yields are mixed with Germany, France, UK yields mostly lower. Investors are shunning Spain, Italy and Portugal debt (Italian yields are up 10.5 basis points).

European yields are mixed

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