Яндекс.Метрика The GBP is the strongest. The CAD is the weakest as NA trader enter for the day ⋆ Technologies of the future for life!
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The GBP is the strongest. The CAD is the weakest as NA trader enter for the day


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The USD is mixed

As the North American session begins the GBP is the strongest, while the CADis the weakest.  The USD is trading mixed with little gains/losses (the largest change is vs the GBP at -0.34%).  

The ranges in the major pairs are modest as traders are content to wait for the key events and releases ahead.  US GDP, trade numbers, BOE Financial stability report and Fed Chair Powell (at 12 AM ET) highlight the calendar today.  

The GBPUSD has a 73 pip trading range and the UDCAD has a 40 pip range but the other major pairs vs the USD have ranges of 34 pips or less.   That is not a lot, and all pairs are below their 22 day average range (about a month of trading).  Traders are sitting on their hands waiting for the next shove.

A snapshot of other instruments at the start of the New York session shows:

  • Spot gold, is down $.83 or -0.7% at $1214.19. Little changed. 
  • WTI crude oil futures down $.08 or -0.14% at $51.41. Little changed. 
  • Bitcoin on Coinbase has rebounded and is up $247 at $4015.86.  The  low reach $3741.67. The high extended to $4072.95.  The low on Sunday reached $3456. That was the lowest level since September 2017

US stocks or higher on hopes for a deal with China.  The markets are also hopeful that Fed Powell might signal a more dovish view when he speaks today.  

  • Dow futures imply a 154 point rise
  • NASDAQ futures imply a gain of 43 points
  • S&P futures imply a gain of 15.7 points

European shares are trading higher:

  • German DAX, 0.11%
  • France’s CAC, 0.32%
  • UK’s FTSE, unchanged
  • Spain’s Ibex, 0.46%
  • Italy’s FTSE MIB, 0.14%

In the US debt market, yields are little changed in early NY trading.

The 10 year benchmark in Europe show yields are modestly lower.

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