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

Technical Analysis

The greenback continues its run higher

As North American traders enter for the day, the USD remains as the king, while the JPY moves to the weakest.   The stocks continue to have a wild ride of it, going from positive to negative and positive to negative today. We are currently back negative, but we are not limit down at least.  Gold is down. Crude oil is up for a change. The ECB announced a $ 750 purchase program including all asset categories. The RBA cut rates by 0.25% and other stimulative measures.   The Fed announced more funds to banks including credit protection.  The SNB left the rate unchanged as expected.  They said they was increasing intervention.  

The greenback continues its run higher

Looking at the ranges and changes, I had to check but the EURAUD and GBPAUD had a wild ride up and back down with ranges close to 1000 pips each.  The other major pairs have ranges that are above the 22 day averages (and quite healthy). 

The ranges and changes for the major currency pairs

In other markets:

  • Spot golds is trading down $ 16 or -1.08% $ 1469.75
  • WTI crude oil futures are trading up $ 1.75 or 8.59% at $ 22.12 as traders take a reprieve from the consistent selling

in the premarket for US stocks, the major indices are lower in up and down trading:

  • Dow futures imply a -375 point decline
  • NASDAQ futures imply a -62 point decline
  • S&P futures imply a -38 point decline

in the European equity markets the 2 had a volatile up and down session.  The results are currently mixed:

  • German DAX -0.8%
  • France CAC, -0.6%
  • UK’s FTSE 100, -1.9%
  • Italy’s FTSE MIB, +0.6%
  • Spain’s Ibex, -0.2%

In the US debt market, the yields are moving lower with the yield curve flattening. The 2 – 10 year spread is down to 61.57 basis points from 65.78 basis points yesterday.

US yields are lower

European yields are all over the place with the Italian 10 year yield down 60 basis points, German yields unchanged France yields down and UK yields up.

European yields are all over the place

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