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The CAD is the strongest. The GBP is the weakest as trader await the US jobs report


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The USD is up marginally

As traders await the US jobs report for April (NFP 190K est, wages 0.3%/3.3%, Unemployment rate 3.8%), and a bunch of Fed speakers today, the CAD is the strongest of the majors and the GBP is the weakest.  However, take note that the volatility is relatively modest.
The GBPUSD fell below its 100 hour MA at 1.3014 (currently) and 1.3000 level on its way to a 1.2990 low. The pair did stall ahead of its 100 day MA at 1.2979.  Those levels will be eyed through the fireworks today. The USD overall is marginally higher ahead of the report in the morning snapshot.

The changes and ranges chart below is showing the lack of volatility today. The EURUSD range (34 pips) and GBPUSD range (54 pips) are OK, but for the other pairs vs the USD, the ranges are 24 pips or lower. There is not a lot of meat on the traders bone for trading.  The “market” is waiting.

In other markets:

  • Spot gold is up $1.04 or 0.08% at 1271.69
  • WTI crude oil is up $0.19 or 0.32% at $62

US stocks are higher ahead of the jobs report (as implied by the futures).

  • Dow, +66 points
  • S&P, +8.00
  • Nasdaq, +45 points

Buffett said that Berkshire Hathoway bought Amazon for the first time ever.
In Europe, shares are higher

  • German Dax, +0.43%
  • France’s CAC +0.31%
  • UKs FTSE, +0.78%
  • Spain’s Ibex, +0.10%
  • Italy’s FTSE MIB, +0.22%

In the US debt market, the yields are higher by 1-2 bps

The European yields are also marginally higherL

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