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

Technical Analysis

The USD is mostly lower

As the NA session begins, the NZD is the strongest. The JPY is the weakest.  Both the NZDUSD and the AUDUSD have trended higher from the 1st hour of trading after initially gapping lower from Friday’s close. The USD is mostly lower with the greenback lower vs all major currencies with the exception of the JPY.  The coronavirus cases globally increased by the greatest one day amount. The US case count rose by 1.6% vs an average of 1.2% over the previous 7-days. 

The USD is mostly lower

Looking at the ranges and changes, the data is mixed. The USDJPY and the USDCHF have very narrow trading ranges while the GBPUSDU, USDCAD, AUDUSD and NZDUSD are pushing the 22 day average trading ranges   The JPY crosses are higher.  

The ranges and changes for the major currency pairs

In other markets:

  • Spot gold is trading up $ 2.35 or 0.13% at $ 1746
  • WTI crude oil futures are trading lower by $ 0.50 or -1.26% at $ 39.25

In the premarket for the US stocks, the futures are mixed

  • Dow is down 27 points
  • S&P is down -3 points
  • Nasdaq is up 15 points

In the European equity markets the major indices are trading lower but off there lowest levels

  • German DAX, -0.3%
  • France’s CAC, -0.3%
  • UK FTSE, -0.1%
  • Spain’s Ibex, -0.8%
  • Italy’s FTSE MIB, -0.3%

In the US debt market the yields are trading little changed.

US yields are mixed

In the European debt market, the benchmark 10 year yields are trading lower across the board:

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