The GBP is the strongest and the CHF is the weakest as the NA trading week starts

Technical Analysis

The USD is mixed

As the North American traders week begins, the GBP is the strongest. The CHF is the weakest but the major pairs are all trading close to each other. The USD is mixed/a little weaker with most of the declines coming versus the GBP. The other pairs vs the USD are all within 0.10 of the Friday close in the morning snapshot.

The changes and ranges charts below show the lack of trading activity with the USD vs the major pairs all less than 44 pips ranges.  Each are well below their 22-day averages (about a month of trading).  The cross currency pairs are also well below averages.  It is a slow start to the tradng week.

the ranges and changesare shown little movementA snapshot of other markets at the start of the NA day shows:
  • Spot gold, $-3.56 or -0.28% at $1286.79
  • WTi crude oil, $-.69 or -1.08% at $63.20

US stocks are near unchanged on the day 

  • Dow, +2.7 points
  • S&P index unchanged
  • NASDAQ index unchanged

European shares are also little changed:

  • German DAX, +0.1%
  •  France’s CAC,+0.08%
  • UK’s FTSE, -0.08%
  • Spain’s Ibex, +0.25%
  • Italy’s FTSE MIB, +0.30%

In the US debt market, yields are little changed

  • 2 year, 2.397%, +0.6 basis points
  • 5 year 2.378%, -0.1 basis points
  • 10 year 2.559%, -0.5 basis points
  • 30 year 2.970%, -0.6 basis points

In the European benchmark 10 year notes yields are higher marginally

  • Germany, 0.071%, +1.6 basis points
  • France 0.428%, +2.9 basis points
  • UK 1.236%, +2.4 basis points
  • Spain 1.081%, +3.2 basis points
  • Italy, 2.541% unchanged

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