The ranges are confined
As the NA session begins, the CAD is the strongest while the CHF is the weakest of the major currencies. The volatility is relatively light for the day as traders brace for the midterm elections and an FOMC decision on Thursday (RBNZ will also have a rate decision). Key events for the week can be found here). The USD is mixed
The ranges and changes are contained with the major US pairs trading withing 28 pips of the Friday closing levels. The ranges are also contained in most pairs in relation to the 22-day average trading ranges (red line in the lower chart).
In other markets to start the day:
- Spot gold is down about -$4 or -0.32% at $1228.93
- Crude oil is unchanged at $63.15
IN the pre-US stock trading, futures are implying:
- Dow down -4 points
- S&P is near unachanged
- Nasdaq is down -10 points
In the US debt market, yields are near unchanged levels.