Home / Forex Treiding / The GBP is the strongest. The JPY is the weakest at the start of the NA session

The GBP is the strongest. The JPY is the weakest at the start of the NA session


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The USD is lower/mixed/little changed

As North American traders enter for the day, the GBP is the strongest taking its cue from higher earnings (ignoring Brexit/no-deal potential). The JPY is the weakest as stocks have more of a calm today (US pre-market is higher).  The NZD moved higher in the first hour of the day on better than expected CPI data (0.9% vs 0.7% expected).  
The USD is showing little changes vs EUR, CHF AUD and declines vs the GBP (-0.50%), NZD and CAD. The dollar is higher vs the JPY. A more lower, mixed, little changed day all in one. 

There is not a lot of volatility as most of the major pairs vs the USD have ranges of 44 pips or lower for the day. Those are well below their 22-day averages.  GBP pairs show the most volatility and are trading near extremes entering the day. 

In other markets:

  • Spot gold is up $3 or 0.26% at $1230
  • WTI crude oil is down $0.42 reversing the modest gains from yesterday’s trading at $71.35. 
  • Bitcoin is up $61 at $6451 on Coinbase. The 100 day MA is at $6758.86. The high reached $6493.11 today so far

In the pre-US stock opening, futures are implying a higher opening:

  • S&P index up 11 points
  • Dow industrial averageup 122 points
  • NASDAQ up 50 points

In Europe, stocks are higher:

  • Stoxx up 1%
  • German Dax up 0.7%
  • UK FTSE unchanged
  • France’s Cac up 0.7%
  • Spain’s Ibex up 1.3%
  • Italy FTSE MIB up 1.2%

IN the US debt market a snapshot is showing yields are higher by about 2 bps across the board.

European yields in the 10 year benchmarks are mostly going the other way:

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